TOKYO (dpa-AFX) - Setting aside speculation that a U.S.-Japan trade deal hit a last-minute snag, Japanese Foreign Minister said an agrement has been reached between the two sides at an hour-long meeting he had with U.S. Trade Representative Robert Lighthizer on the sidelines of the U.N. General Assembly in New York.
'All the trade negotiations were finished today. I think we'll have a great ceremony at the Japan-U.S. summit meeting (Wednesday),' Motegi told reporters Tuesday.
Japanese Prime Minister Shinzo Abe and President Trump are expected to issue a joint statement regarding the finalization of the long-awaited trade deal, Japanese media reported.
Motegi said the U.S., Japanese governments are not 'behind that much from our goal to sign the agreement at the end of September.'
Trump had announced last week that his Administration has reached an initial trade agreement on tariff barriers and digital trade with Japan.
Trump did not disclose the details of the deal, but Japan is expected to reduce or abolish tariffs on beef, pork and wheat imported from the United States, and cut tariffs on U.S. wine.
The United States will reportedly make a commitment not to hike tariffs on Japanese cars or introduce quotas to the number of cars imported to the country in return for Tokyo allowing increased access for American agricultural products.
Abe and Trump had hinted at the possibility of signing a trade deal after the two sides reached an agreement on its core elements on the sidelines of the G7 Summit in Tokyo last month.
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