(MENAFN- Qatar News Agency) Japan and the United States are likely to conclude their preparatory talks this week on the Trans-Pacific Partnership free trade negotiations, clearing the way for Japan to join the full-fledged talks involving 11 nations as early as July, government sources said Tuesday.
Japan has agreed to allow the United States to retain the tariffs it imposes on automobiles and trucks imported from Japan for some time while securing fair competition in the insurance sector, according to Japan's (Kyodo) News Agency. Tokyo plans to negotiate retaining its own tariffs on sensitive agricultural products in the TPP negotiations.
After the conclusion of the bilateral talks, US President Barack Obama is expected to notify the US Congress and seek its approval for Japan's participation in the negotiations on the trade liberalization pact covering the Pacific Rim nations. The approval process is expected to take at least 90 days. Â
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