Abe may have outmaneuvered an in-a-hurry Trump with their FTA, but looking forward, risks remain high
In an anxiously awaited speech on his China trade war this week, US President Donald Trump spent a surprising amount of time talking about – well, Japan.
Then there was his self-congratulatory talk of how he “struck a deal, which is historic, with Japan.” Trump told the Economic Club of New York on Nov. 12 that “that deal was signed, and it’s a great deal but it’s only Phase One of the Japan deal, too.”
There are two problems with these remarks.
One, the US-Japan free-trade agreement is not gaining traction for full ratification in Japan’s parliament. Two, Trump is likely to find that Prime Minister Shinzo Abe’s government will be less pliant the second time around.
On the slow track