Japan makes concession in TPP auto talks

posted on October 3, 2015

12 Pacific-rim nations are trying to break the logjam on the Trans-Pacific Partnership free-trade agreement.

Two days of scheduled meetings have ended in the US city of Atlanta. The negotiators have agreed to meet for one more day to try to get a deal.
Sources say Japanese negotiators have made a concession on auto trade to smooth out the negotiations.

The concession is on the so-called rule of origin. This sets the amount of auto parts produced within TPP member countries that cars must contain to be exempt from tariffs.

Japanese negotiators were pushing for a lower threshold close to 40 percent. Non-TPP member countries like Thailand are major suppliers of parts for Japanese auto makers.

Mexico and Canada are calling for a higher figure, citing the 70-plus percent level they set under a free trade deal with the US.


source by newsonjapan
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