P.M. BRIEFING : U.S. Claims Japan Is Not Doing Enough to Cut Trade Surplus
U.S. officials today accused Japan of not doing enough to reform deep-rooted business traditions and economic behavior that contribute to Japan’s $49-billion trade surplus with the United States.
After the first of two days of trade talks, members of the U.S. delegation complained that Japanese plans to help ease the trade imbalance “hadn’t gone as far as we hoped.”
“It is very important to note that some progress has been made. But frankly, much more needs to be done,” said a member of the U.S. delegation, who briefed reporters on condition he not be identified.
U.S. trade negotiators are under heavy pressure from Congress to demonstrate progress in the 9-month-old talks, which are aimed at changing deep-rooted factors in both economies that contribute to the U.S. trade deficit with Japan.
The $49-billion U.S. trade deficit with Japan accounted for 45% of 1989’s $108.58-billion U.S. deficit.
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