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President leaves Japan with no deal on TPP

President Obama’s visit to Japan has ended with no deal between the U.S. and Japan on trade.  Obama says he’s been clear and honest with Japanese officials about the need for zero tariffs on agriculture and automobiles in the Trans Pacific Partnership, “American manufacturers and farmers need to have meaningful access to markets that are included under TPP, including here in Japan. That’s what will make it a good deal for America, for our workers, and our consumers and our families – that’s my bottom line – and, I can’t accept anything less.”  Obama says he’s confident a deal can be eventually reached.

Japan wants tariffs imposed on beef, pork, rice and dairy, among other U.S. commodities. US Ag Secretary Tom Vilsack says there needs to be ZERO tariffs on ALL commodities for Congress to approve a free trade deal, “You know, we’re confronted with a situation where it’s not any deal is the best deal. It has to be a good deal. And, if it’s a good deal, great and if it’s not, we’d be better off with no deal.”

Japan reached a deal with Australia in which it lowered tariffs but did not eliminate them and is said to be hoping for the same deal with the U.S.