When you stand still on trade, you fall behind. Nowhere is this more apparent for the United States than in Japan, the world’s third largest economy and long a top market for U.S. exports. It’s also why the U.S. just launched negotiations for a trade agreement with Japan.
Like many other countries in the Indo-Pacific region, Japan has been striking new trade deals and tearing down barriers to global commerce. It’s imperative that we act quickly so that our workers, farmers, and companies are not stuck on the outside, looking in. The Trans-Pacific Partnership (TPP) is a case in point. The U.S. led the way in negotiating this 12-country trade pact, but when Washington withdrew in 2017, Japan and the other participating countries chose to implement it without us. The TPP finally entered into force last December.
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