I think a little push on Japan getting into the TPP would not have been out of order today [View all]

[RB TexLa]

Japan May Move on Joining U.S.-led Trade Talks Under Abe

Japan’s new government may move to join U.S.-led trade talks as the Abe administration seeks to help exporters and strengthen ties with the nation’s main ally amid rising tensions with China.

“Japan will deepen discussions on the Trans-Pacific Trade Partnership,” Agriculture Minister Yoshimasa Hayashi said at a press conference today in Tokyo. His ministry oversees an industry that has led opposition to the TPP out of concern it would hurt domestic farmers. Prime Minister Shinzo Abe told reporters late yesterday that Japan would “comprehensively consider” joining the talks.

The pact would help companies from Toyota Motor Corp. to Kobe Steel Ltd. (5406) compete with rivals from South Korea, which already has a free-trade deal with the U.S. Obstacles include the powerful farming lobby, a key support base for Abe’s Liberal Democratic Party, as he looks to solidify its hold on power in upper house elections in July.

“Abe is likely to make clear that joining the TPP is part of his long-term strategy,” when he meets U.S. President Barack Obama next year, said Masaaki Kanno, chief economist at JPMorgan Securities Japan Co. and a former central bank official. “Still, agriculture has very strong lobbying powers, so entry into negotiations won’t happen until after the upper house elections.”



http://www.bloomberg.com/news/2012-12-27/japan-may-move-on-joining-us-led-trade-talks-under-shinzo-abe.html