East Asia Forum
The fact that China, Japan and South Korea (CJK) engaged in an agreed-upon trilateral summit framework, and bilateral dialogues on the sidelines, was no small achievement given heightened tensions between the three countries.
The Japan Times
The Japan-U.S. Trade Agreement (JUSTA), the pinnacle for modern trade policy between the two allies, is now in force.
South Korea, China and Japan have made some progress in negotiations on a free trade agreement (FTA) following the trilateral summit held late last year.
The Japan News
Japan and Australia reaffirmed their goal of concluding the envisioned RCEP free trade deal among 16 nations including India by the end of the year.
International The News
Japan expressed its support for Pakistan’s efforts to stabilse the country’s fragile economy and also agreed to work together to further promote bilateral trade relations.
The Japan Philippines Economic Partnership Agreement (JPEPA) negatively impacted machinery and mechanical exports even as it benefited Philippine exports overall, according to a study from the Philippine Institute of Development Studies.
Countries like China, South Korea and Japan may boast of low tariffs but they have erected huge non-tariff barriers (NTBs), most of which are tailored to mask the ferocity of trade protectionism, in a bid to control the imports they deem undesirable.
For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
The Japan Times
Whereas Japan took the lead to establish the TPP without the United States, Tokyo does not desire a RCEP without India because it would create a China-led trading bloc.