Japan, Us Hope To Conclude Talks In September

Japan, US hope to conclude talks in September

The top trade negotiators from Japan and the United States have expressed optimism about reaching a mutually-beneficial trade agreement in September.

Japan's Minister for the Trans-Pacific Partnership and Japan-US trade negotiations, Toshimitsu Motegi, spoke after meeting US Trade Representative Robert Lighthizer in Washington on Friday.

He said "the peak is in sight," indicating significant progress had been made.

Japanese government sources say Motegi asked Lighthizer to compromise, adding that any tariff cuts will have to be approved by the Japanese Diet, to which Lighthizer reportedly showed understanding.

They reportedly agreed that mutually-beneficial results should be achieved during a bilateral summit expected to take place towards the end of September.

Following the latest round of trade talks, the Japanese government has become increasingly hopeful for an early conclusion of the discussions.

The two governments are planning to work out details in a ministerial meeting ahead of the G7 summit in France later this month.