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Japan sees trouble ahead as trade pact stalls

Until earlier this month, Japan had been under strong pressure from the U.S. to open its market as part of the highly contentious Trans-Pacific Partnership free trade negotiations. On Thursday, Japan appeared to be suddenly let off the hook.

U.S. Senate Majority Leader Harry Reid made clear his opposition to granting the Obama administration power to clinch trade deals with other countries, dashing hopes for an early TPP deal and leaving negotiations on hold at least until the U.S. mid-term elections are over in November.

Few issues are as emotionally charged in Japan as the TPP, mainly because of the U.S. demand for opening up Japan’s highly protected rice industry.

More at the Wall Street Journal


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