USTR Confident of TPP Deal by Year-End after Japan Entry

Washington, July 18 (Jiji Press)--U.S. Trade Representative Michael Froman expressed confidence on Thursday that Trans-Pacific Partnership free trade talks will reach a conclusion by the end of this year after the entry of Japan. Asked if Japan's participation in the TPP talks may cause a delay in negotiations, Froman said in testimony to the House Ways and Means Committee, "We had extensive consultations with Japan prior to agreeing to allow them to join TPP...on agriculture issues, on insurance and on the auto sector." "We've reached some upfront agreements in certain areas," he said, citing as an example a Japanese decision to ease import restrictions on American beef. Froman said that "it was important for us that Japan agreed...that everything's on the table" and "we have not agreed to any upfront exclusions with regard to Japanese agriculture." Japan is expected to make its debut in the TPP talks during the ongoing session in Malaysia following the completion of U.S. procedures to approve its entry. On whether a clause authorizing sanctions against currency manipulation should be included in the TPP pact, Froman said, "We share the concerns about currency." He did not elaborate. Referring to the TPP talks in Malaysia, Froman expressed his determination to reach a high-standard agreement in a bid to boost trade and create new employment opportunities. "It's better to have no agreement than bad agreement," he said. Froman also discussed Trade Promotion Authority, or TPA, for President Barack Obama, which would obligate Congress to decide within a certain period of time whether to ratify a treaty when the United States concludes negotiations, including the TPP talks. "TPA is a critical tool," he said. "We stand ready to work with you (Congress) to craft a bill that achieves our shared interests." In the testimony, David Camp (R-Michigan), chairman of the committee, said, "In the TPP, I have serious concerns about Japanese nontariff barriers in the auto, insurance and agriculture sectors." Sander Levin (D-Michigan), ranking member of the committee, said, "What the U.S. negotiates with Japan could have important impacts on the U.S. economy."