5/17, 8:26 AM (Source: TeleTrader)
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Minister: US won't cap Japanese auto imports

Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi (pictured) said on Friday that the United States won't impose quotas on Japanese auto exports, the AP reported. Japan's chief trade negotiator added that the point was reached after negotiations with the US Trade Representative Robert Lighthizer.

The first round of the US-Japan trade talks was concluded in April without a definitive deal, after which the US President Donald Trump multiple times lambasted European and Japanese auto industry, threatening them with new tariffs. In May, media reported that the White House pushed for a faster agreement on trade with Japan.

Trump recently delayed new tariffs on auto imports to the US for up to six months in an effort to avoid opening new flashpoints during the ongoing trade dispute between Washington and Beijing.

Breaking the News / MA