White House promotes Japan’s TPP membership

   The Obama administration Wednesday notified Congress of its intent to include Japan in the Trans-Pacific Partnership (TPP) Agreement negotiations.
   This notification follows an announcement on April 12 that the United States and Japan had completed bilateral TPP consultations, as well as an announcement by TPP countries on April 21 that they welcome Japan as a participant in the TPP negotiations, pending the successful completion of domestic procedures by each TPP country.
   Wednesday’s notification triggers a 90-day consultation period with Congress and the public on U.S. negotiating objectives with respect to Japan. Acting U.S. Trade Representative Demetrios Marantis noted in a letter to lawmakers that Japan’s entry into the TPP negotiations will help deliver significant economic benefits for the United States, Japan and the Asia-Pacific region.
   “With Japan’s entry, TPP countries would account for nearly 40 percent of global GDP and about one-third of all world trade,” Marantis said. “As we have done thus far, we will work with Congress as we use the TPP Agreement to promote new technologies and emerging economic sectors, create new opportunities for U.S. exporters, including small- and medium-sized businesses, in the region, and help U.S. firms participate in production and supply chains in order to encourage investment and production in the United States.”
   Furthermore, the United States will conduct bilateral, parallel negotiations with Japan to address concerns in the automotive sector and non-tariff measures in other sectors, he said. 
   In addition to the United States, the current TPP countries include Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.