Legal and Judicial Affairs

US, Japan tasked on fiscal, monetary policies

Japan and the U.S. have been advised to avoid trying to interfere with each other’s fiscal and monetary policies when they start bilateral economic talks next month.

A former Japanese Economy Minister, Akira Amari, gave the advice on Monday when he led Japan’s negotiation team on the Trans-Pacific-Partnership to the U.S.

The negotiation had earlier been scuttled when President Donald Trump pulled the U.S. out saying the two nations needed to conduct talks with an eye towards emerging markets and the world as a whole.

Trump and Prime Minister Shinzo Abe agreed last month to launch a bilateral economic dialogue to discuss trade and infrastructure investment.

Japan, concerned about Trump’s strident comments about trade and currencies, hopes to use the talks to seek ways to avoid trade friction and ensure Washington is engaged in the Asia-Pacific region.

Asked about the possibility that the U.S may make demands regarding Japan’s fiscal and monetary policy, Amari told media in an interview:

“One nation should not meddle with another nation in areas where sovereign and independent rights exist.”

Source: Voice of Nigeria