US President Donald Trump's comment signalling an announcement on trade in August probably reflected his hope for quick progress in negotiations, Japan's Economy Minister Toshimitsu Motegi said on Tuesday. Trump's government is trying to renegotiate trade agreements with major economies, including Japan, to lower the U.S. trade deficit and address what it sees to be unfair trade practices. Motegi, who is in charge of trade talks, said his meeting in Tokyo last week with U.S. Trade Representative Robert Lighthizer made clear there were differences in views that needed to be ironed out in future negotiations. "We've agreed that we'll strive to narrow the gap, including through possibly holding working-level talks," Motegi said, adding that no timetable had yet been set for future talks. The United States is in the middle of an expensive trade war with China, and trade tension is also simmering with Japan and the European Union.

Source: dna May 28, 2019 01:41 UTC