TOKYO : Evening Odds in Japan
U.S. and Japanese negotiators meet here Thursday and Friday to review progress in removing barriers to free trade and investment under the so-called Structural Impediments Initiative talks.
Among items on the agenda: Japan’s keiretsu system--the web of interlocking corporate shareholdings that allegedly discriminates against outsiders. Discussions are also expected to focus on limits to foreign direct investment in Japan.
The Japanese side set the stage for the review session last week by announcing that its Fair Trade Commission would ask Parliament to boost penalties on illegal cartels to a maximum of 6% of sales, up from the current 1.5%. The U.S. side had called for cartel fines of at least 10% of sales, but Japanese officials said the amount is not negotiable.
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