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Japan denies giving up 'too much' in trade talks
Japan’s top government spokesman denied on Monday that Tokyo made too many concessions in trade talks with the United States, saying the fact the two countries were able to reach a broad agreement was “very valuable.” Grace Lee reports.
The U.S. and Japan are closer than ever to a trade deal with its leaders making an agreement - in principle - over the weekend.
But the looming question from Japanese commentators afterward: did Tokyo give up too much?
Japan's top government spokesperson gave his answer Monday (August 26).
(SOUNDBITE) (Japanese) JAPANESE CHIEF CABINET SECRETARY, YOSHIHIDE SUGA, SAYING: "Japan and the U.S. have negotiated based on a joint statement last September.
Both sides have agreed in line with that - which I believe is very meaningful, so I don't think Japan compromised too much in trade talks with the U.S." President Trump and Japanese Prime Minister Shinzo Abe have said they hope to sign the agreement in New York next month.
And if a deal is finalized it would help cool a trade dispute between the two allies - just as a trade war between the U.S. and China gains more steam.
Trump's Trade Representative Robert Lighthizer says the deal would open up markets to over seven billion dollars worth of goods and cover industrial tariffs, digital trade and agriculture.