Us Japan Trade Agreement Joint Statement

The U.S. Chamber of Commerce welcomed the move, but said it was not enough. In a statement Wednesday, the House called on the U.S. government to reach “a comprehensive, high-quality trade agreement with Japan that takes into account all of our trade priorities.” The EU, the United States and Japan also agreed that the burden of proof should be reversed for particularly damaging types of subsidies, such as excessive subsidies: the WTO subsidy member must demonstrate that there are no serious negative trade effects or capacity and that there is effective transparency with respect to the subsidy in question. The signatories of the declaration also reaffirmed the importance of technology transfer for global trade and global investment and discussed the fundamental rules that could be introduced to prevent forced technology transfer practices from third countries. We, President Donald J. Trump and Prime Minister Abe Shinzo confirm and welcome the final agreement on the U.S.-Japan trade agreement and the U.S.-Japan digital trade agreement. We share the hope that these agreements will be signed as soon as possible and come into force in the very near future, following our respective internal procedures. Structural reform of the WTO and harmonic conditions of competition in world trade are one of the main priorities of the EU and the Leyen Commission.

Trade Commissioner Phil Hogan said: “This joint declaration is an important step in resolving some of the fundamental issues that distort world trade. The EU has always argued that multilateral negotiations can be effective in solving these problems. I welcome the fact that the United States and Japan share this view. I thank Ambassador Lighthizer and Minister Kajiyama for their constructive cooperation. The declaration is also a symbol of constructive strategic cooperation between three key players in world trade. In a joint statement issued today, representatives of the European Union, the United States and Japan announced their agreement on strengthening existing industrial subsidy rules and condemned the practices of forced transfer of technology. In forced technology transfers, ministers reaffirmed that technology transfer between companies in different countries is an important element of global trade and global investment. A fair, voluntary and market-oriented transfer of technology can be beneficial for growth and development. They also reaffirmed that when a country forcibly transfers technology, it deprives other countries of the opportunity to benefit from the flow of fair, voluntary and market-based technologies and innovations.

These unfair practices are at odds with an international trading system based on market principles and undermine growth and development. 6. The United States and Japan will also strengthen cooperation to better protect U.S. and Japanese businesses and workers from non-market-oriented policies and practices in third countries. We will therefore work closely between the United States and Japan, as well as cooperation between the United States and Japan and the European Union, to promote discussions on World Trade Organization reform and e-commerce and to combat unfair trade practices such as intellectual property theft, forced technology transfer. , trade-distorting industrial subsidies, distortions of state-owned enterprises and overcapacity.