Japan Press Weekly

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2018 June 13 - 19 [ECONOMY]

JCP Inoue: Ratification of TPP11 will lead to further trade pressure from US

The House of Councilors Foreign Affairs Committee on June 12 passed a bill to ratify the TPP11 free trade agreement with a majority vote of the ruling Liberal Democratic and Komei parties. The Japanese Communist Party voted against the bill.

In the discussion prior to the vote, JCP parliamentarian Inoue Satoshi opposed the bill, saying that in the wake of the Japan-U.S. summit meeting on June 7, it became more likely that the U.S. will use the trade liberalization level which is maintained by “TPP11” nations as a starting point for bilateral negotiations and urge Japan to further open its market to American companies.

Inoue pointed out that Prime Minister Abe Shinzo in the latest summit meeting neglected to urge President Trump to withdraw restrictions on imports of steel and aluminum products for Japan and stop considering an increase in tariffs on Japanese cars. Inoue also said that at a press conference after the summit meeting, Trump stated that the U.S. will request Japan to lower trade barriers on U.S. products.

Given these facts, Inoue said, concern grew that the U.S. will press Japan to make concessions and start negotiations for a Japan-U.S. free trade agreement at a bilateral trade meeting scheduled to be held in July.

Inoue also criticized TPP11 for containing an Investor-State Dispute Settlement (ISDS) clause. He went on to say that the EU, the U.S., and more and more countries now think that the ISDS clause could bring about a violation of state sovereignty. Inoue stressed that Japan should depart from its position that the ISDS clause helps Japanese investors protect their interests.

Past related articles:
> Diet approval of bill for ratification of TPP11 forcibly passed in Lower House [May 19, 2018]
> Consumers and farmers: Japan should not ratify TPP11! [March 10, 2018]