Latest news with #Trans-PacificPartnership
Yomiuri Shimbun
8 hours ago
- Business
- Yomiuri Shimbun
Akira Amari: Japan Will Remain ‘Best Partner, Closest Ally of U.S.' as Negotiations Continue Over Trump's Tariffs
Akira Amari Japan will remain the best partner of the United States and act as a bulwark against hegemonic nations, according to former Liberal Democratic Party Secretary General Akira Amari, 75. The following is excerpted from an interview with Amari conducted by Yomiuri Shimbun Staff Writer Ryosuke Okada. *** Japan is the largest foreign owner of U.S. Treasury bonds, which could become a choke point for the United States as that can allow Japan to assert control in that realm. China is making the United States worry that it might sell off a bunch of U.S. bonds, but there will be no such worry coming from Tokyo. Japan will continue to firmly support the credibility of the U.S. economy. Japan serves as a frontline base for the United States' trust and power, acting as a bulwark against hegemonic nations such as China and Russia. It is crucial that people in the U.S. President Trump's inner circle understand the importance of Japan-U.S. relations. For Trump, the most important thing is probably be that he is able to say that he did what no one else could do. It is also important for Japan to provide answers that the United States can accept in areas in which Washington finds particularly unfair. I worked with the Economy, Trade and Industry Ministry to examine non-tariff barriers pointed out by the U.S. trade representative. We studied how Japan should respond to each of the U.S. claims and how far we could go in the negotiations before submitting the list of the items to Ryosei Akazawa, the minister in charge of economic revitalization, ahead of tariff negotiations with U.S. officials. Additional tariffs on Japanese automobiles as well as steel and aluminum products must be abolished. Increasing imports of U.S. biofuels can be an option to offset the U.S. trade deficit in these areas. However, it is impossible to eliminate the U.S. trade deficit with Japan on automobiles. One option would be to establish a Japan-U.S. working-level council to develop common 'standards' on the non-tariff barriers cited by the USTR. It should also be necessary to provide a clear explanation that Japan's U.S. auto imports will increase as long as they are attractive products, as is the case with Tesla's cars being well-accepted in Japan. I was the chief negotiator for the Trans-Pacific Partnership trade pact under the administration led by former Prime Minister Shinzo Abe. The most important thing in negotiations is to have just one contact point. I advised Chief Cabinet Secretary Yoshimasa Hayashi that his role is to coordinate among the various parties within the Prime Minister's Office as the person in charge. Negotiations would not be concluded as soon as relevant ministers tried to show their presence in their respective areas. During the TPP talks, I gathered with relevant ministers at the lawmakers' dormitory. When I asked if I was the one responsible for the negotiations, then Chief Cabinet Secretary Yoshihide Suga simply replied, 'Yes.' This allowed me to tell the U.S. side that no one but Abe can override what I say. Some people say that Pax Americana has come to an end, but the United States must continue to be a stabilizing force in the world. Otherwise, the international order will shift toward the rule by force by China, a military hegemonic power. Japan will remain the best partner and most understanding nation of the United States. Japan should be able to create a framework for the United States to lead the international community in a positive direction. Akira Amari Amari graduated from Keio University's faculty of law. After working at Sony Corp., he was first elected to the House of Representatives in the 1983 election. He has served as the head of the Economy, Trade and Industry Ministry, economic revitalization minister, LDP secretary general and chairperson of the LDP's Research Commission on the Tax System. In the Cabinet led by former Prime Minister Shinzo Abe, formed in December 2012, Amari served as the lead negotiator for the Trans-Pacific Partnership negotiations. He retired in 2024.
Yomiuri Shimbun
3 days ago
- Business
- Yomiuri Shimbun
U.S. Tariffs, Rice Prices Discussed in Basic Economic Policy Draft; Disaster Prevention Agency Also Discussed
Yomiuri Shimbun file photo Prime Minister's Office The government will aim to maintain the free trade system by taking the lead in expanding the Trans-Pacific Partnership agreement, as part of its efforts to respond to U.S. tariff measures, according to the draft of its basic economy policy for the next fiscal year. The draft of the 'Basic Policy on Economic and Fiscal Management and Reform' also states that the government will 'review rice farming policies to address soaring rice prices.' U.S. tariff measures 'could shake the free trade system built by the post-war international community,' the draft says. It goes on to state that the government will 'grapple with maintaining and strengthening international economic order based on free and fair rules' through international cooperation, such as expanding the TPP and building a more resilient supply chain. Regarding the domestic economy, the draft states it is necessary to take caution against possible impacts of the tariff measures and the economic risks of surging prices.' It stresses the need to mobilize all possible policy measures, including passing costs onto prices as appropriate, to increase people's income and the country's productivity. Touching on the soaring rice prices, the draft states the government will ensure the stable supply of rice through the smooth distribution of its stockpiled rice. It also states that the government will take concrete steps to review its rice farming policies. Prime Minister Shigeru Ishiba has expressed his willingness to review the policy of adjusting rice production, which is effectively a policy of reducing rice acreage, and instead expand sales channels by increasing rice exportation. These stances are reflected in the draft. The draft makes reference to a disaster prevention agency, which the government aims to establish in fiscal 2026. The envisaged organization will be positioned as the central command for the entire government on the coordination of policy measures for disaster prevention. The draft states that the agency will have the authority to issue recommendations to other government bodies, and that the government will secure sufficient funding and personnel for the agency as well as appoint a dedicated cabinet member to head it. According to the draft, the government will also consider setting up regional bases for disaster prevention, an idea which Ishiba has touted. Following adjustments by the ruling parties, the basic policy is expected to be approved by the Cabinet as early as on June 13.
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Nikkei Asia
6 days ago
- Business
- Nikkei Asia
Trump has created an opportunity for global trade partnerships to thrive
Sohini Chatterjee, a former senior official at the U.S. Department of State who served as a lead U.S. negotiator on the Trans-Pacific Partnership during the Administration of President Barack Obama, is an international attorney and former Adjunct Professor at Columbia University. Years ago, after painstaking months of brutal talks that took place all over the globe and brought together negotiation experts from a slew of different countries with distinctive cultural, economic and political leanings, an immense and innovative trade agreement called the Trans-Pacific Partnership (TPP) was about to be born. Suddenly and at the 11th hour, the U.S. abruptly bailed from the negotiations.
Asia Times
24-05-2025
- Business
- Asia Times
Civilizational multipolarity in a post-Pax Americana world
In 2016, Singapore's then-Defense Minister Ng Eng Hen was asked in Parliament how the country would respond if the United States were to pull back from its security commitments in Asia. At the time, the question was hypothetical. Today, with Donald Trump in his second term and Ng stepping down after 14 years as Singapore's longest-serving defense chief, the question has become reality. The American security umbrella – long taken for granted by many of its allies – appears to be fraying. The post-WWII order, underwritten by US military dominance and financial centrality, is no longer assured. And in anticipation of a post-Pax Americana world, states are adjusting accordingly for a new order. The first fault line lies in deterrence. For decades, US allies were content to rely on American protection rather than build up their own armed forces. That era is over. Germany has committed US$107 billion to defense upgrades. Poland now spends 4% of GDP on its military – more than any other NATO member. Asia tells a similar story. Japan is doubling its defense budget by 2027, upending long-standing pacifist traditions. In South Korea, 76% of citizens now support developing nuclear weapons – an idea once unthinkable under the US nuclear umbrella. Across both regions, allies are hedging against the possibility of American abandonment. The second fault line is financial. The American military's reach has long been sustained by global demand for US Treasuries. But the foundations of that system are weakening. In FY2023, the US ran a budget deficit of $1.7 trillion, $1.1 trillion of which went to defense and veterans' spending. Meanwhile, foreign appetite for American debt is shrinking. Overseas ownership of US Treasuries has dropped from 42% in 2013 to 31% in 2023. China alone has reduced its holdings by more than $330 billion. The dollar's share of global foreign reserves, once above 70% in 1999, has fallen to 58%. What's more, the weaponization of the dollar – through sanctions, export controls and financial restrictions – has spurred countermeasures. The BRICS bloc is expanding non-dollar trade and exploring alternatives like central bank digital currencies. Economist Dr Yanis Varoufakis calls this the rise of 'cloud capital', a global financial architecture slowly decoupling from American control. The third fault line is institutional. The legitimacy of US leadership was once rooted in its commitment to multilateralism. Today, that commitment appears selective. From withdrawing from the Trans-Pacific Partnership and the Paris Climate Agreement to the chaotic exit from Afghanistan, Washington's global posture has become more transactional. Conditional support for Ukraine and shifting rhetoric on NATO have deepened doubts about America's reliability in its new role as an offshore balancer. The recent India–Pakistan conflict – killing over 50 civilians and inflicting $90 billion in economic damage by some estimates – revealed how quickly a confrontation between nuclear powers can now spiral without a more timely US intervention. Yet the greater challenge may not be the retreat of the American umbrella itself but rather what emerges in its absence – a shift I call 'civilizational multipolarity.' What makes this moment distinct from any other in history is not just the redistribution of power – it is the nature of the actors now asserting that power. For the first time, multiple civilizational states – China, India, Russia and Iran – are rising within a shared global system. Historian Professor Wang Gungwu calls this the return of 'civilizational consciousness' – a dynamic in which states derive legitimacy not from universal norms but from deep structures of language, religion and institutional memory. China exemplifies this shift. As scholar Dr Martin Jacques observes, China views itself not merely as a nation-state but as a 'civilization-state,' with 5,000 years of political tradition and moral philosophy. The Chinese Communist Party's claim to authority is not based on liberal norms but on restoring what it sees as the Middle Kingdom's rightful place in history. This has far-reaching consequences. Professor Graham Allison's 'Thucydides Trap' warns of conflict when a rising power threatens a ruling one. But in today's context, the competition is not only over power – it is over values and visions of world order. Professor John Mearsheimer has argued that liberal internationalism cannot survive in a world governed by nationalism and realism. Civilizational multipolarity intensifies that prognosis: Powers now export governance models rooted in their own traditions rather than converging on a single set of norms. Professor Samuel Huntington's 'Clash of Civilizations' posits that cultural and religious identities will inevitably drive global conflict in the post-Cold War era, as fundamental civilizational differences – rooted in history, religion, and values – become irreconcilable fault lines between nations and blocs. But there is still agency in how states respond. ASEAN, for instance, offers an instructive model through its principle of 'omni-enmeshment', an approach that avoids binary alliances while encouraging engagement across civilizational lines. Rather than choosing sides, ASEAN states create space for dialogue and cooperation, preserving autonomy while participating in global governance. If the global community can embrace this ethos, civilizational multipolarity need not be seen as a threat, but as an opportunity: the foundation for a more pluralistic order within a shared framework. Singapore's new Defense Minister, Chan Chun Sing, captured this outlook well when he remarked at the 41st IISS-Asia Fullerton Lecture in 2021: 'Middle powers and small states can help to build bridges, create platforms for dialogue and uphold the multilateral system. By working together, we can provide alternative pathways for cooperation, even when larger powers disagree.' If this transition is managed wisely, the post-American era need not mark the unraveling of global order. It could instead herald the rise of a more inclusive, resilient and balanced system, one not defined by dominance, but by the peaceful co-existence and constructive engagement of civilizations. That would be a first in human history. And perhaps, its greatest achievement. Marcus Loh is a Director at Temus, a Singapore-based digital transformation services firm, where he leads public affairs, marketing and strategic communication. He was formerly the president of the Institute of Public Relations of Singapore. He presently serves on the digital transformation chapter executive committee of SGTech, the leading trade association for Singapore's technology industry. Loh completed an executive program in public leadership from the Harvard Kennedy School of Government and earned master's degrees from the Singapore Management University and University College, Dublin.
Yomiuri Shimbun
23-05-2025
- Business
- Yomiuri Shimbun
Chief Cabinet Secretary: Protect Japan's Interests While Striving for ‘Win-Win' Outcome
The Yomiuri Shimbun Yoshimasa Hayashi Chief Cabinet Secretary Yoshimasa Hayashi said in an interview with The Yomiuri Shimbun that the government must prioritize Japan's interests but strive for a mutually beneficial outcome in the upcoming Japan-U.S. tariff negotiations. The following is excerpted from Hayashi's remarks in the interview conducted by Yomiuri Shimbun Staff Writer Masashi Yamaguchi. *** Japan's national interests must come first in any trade negotiations. We need to seek an agreement that is a win-win situation for both Japan and the United States to also ensure that Washington will maintain its engagement in the Indo-Pacific region. What would President Trump consider to be a 'win'? To answer that question, thinking about the domestic U.S. situation and why the United States chose Trump as its leader are extremely important. In the 2016 presidential election that led to the first Trump administration, both Trump and the Democratic Party candidate, former Secretary of State Hillary Clinton, adopted a skeptical attitude toward the Trans-Pacific Partnership (TPP) trade agreement. They didn't use the words 'free trade' much. Even the administration of President Joe Biden, a Democrat, advocated a 'worker-centered trade policy.' It would be unwise to think that protectionist policies are something unique to the second Trump administration. In the United States, the view that 'manufacturing industries must be restored' for the sake of the 'forgotten people' in the Rust Belt region, which has experienced significant decline, has really gained traction. The same sentiment can be found in the foundation of Trump's slogan 'Make America Great Again.' Trade policy has become an extension of this kind of domestic politics. Starting in about autumn, the Japanese government assembled senior officials from relevant ministries and agencies to coordinate countermeasures for anticipated U.S. trade moves. This was prompted by various comments, including about tariffs, that Trump had made during his presidential election campaign. The government felt that starting preparations early would be prudent. Japan's direct investment in the United States is the highest of any nation. The government has conveyed its deep concerns that U.S. tariffs could erode Japan's capacity to invest in the United States. Japan and the United States should pursue cooperation that benefits both nations, including through greater investment. Bringing up assumptions here about what might happen in the future will not have a positive impact on negotiations. The series of tariffs imposed by the United States is extremely regrettable, and the government will approach negotiations with the unwavering stance that those duties must be withdrawn. Economic revitalization minister Ryosei Akazawa is Japan's top trade negotiator and has been holding discussions with the U.S. side. Both sides are engaging in these talks with a candid and constructive approach and aim to, as soon as possible, reach an agreement that both leaders can announce. These talks might progress as expected, but they might not. Thus, the aim is to reach an agreement 'as soon as possible.' I was involved in TPP negotiations when I was agriculture, forestry and fisheries minister. The government pushed ahead with those talks from a stance of 'protecting what should be protected, and pursuing what should be pursued.' I am a cochair of the government's task force overseeing the response to the U.S. tariffs. My job is to keep the relevant ministries and agencies connected and working together. I am aware of what we can do as a team to achieve common objectives. I have many contacts in the Foreign Ministry, Finance Ministry and Agriculture, Forestry and Fisheries Ministry thanks to my experience as a cabinet minister, and through other channels. I intend to also make full use of these personal connections to reliably fulfill my role. Yoshimasa Hayashi Hayashi, 64, is a graduate of the University of Tokyo's Faculty of Law and Harvard University's John F. Kennedy School of Government. He was elected to the House of Councillors for the first time in 1995. In 2021, he moved to the House of Representatives when he was elected to the lower house. He is in his second term in the lower chamber. He has held posts including defense minister; agriculture, forestry and fisheries minister; education, culture, sports, science and technology minister; and foreign minister. He has been in his current post since December 2023.
