Word: hashimoto
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...plenty. For one thing, this time it might really happen: the Clinton Administration swears it is dead serious about slapping penalty tariffs on Japanese luxury cars Wednesday. The announcement over the weekend that U.S. Trade Representative Mickey Kantor and his Japanese counterpart, Ryutaro Hashimoto, will meet Monday in Geneva may increase the prospects of an eleventh-hour deal to expand sales of U.S. auto parts to Japan and keep the penalties from being put into effect. But even that would not defuse the intensifying confrontation between Washington and Tokyo...
...negotiators from the U.S. and Japan stepped in to try to forge an agreement in Geneva. U.S. Trade Representative Mickey Kantor and Japanese Trade Minister Ryutaro Hashimoto began a series of what they vow will be round the clock meetings as they try to reach a trade agreementbefore Wednesday, when U.S. sanctions are due to take effect.No progress has yet been reported as the U.S. remains firm in its demand that Japan open its auto markets to American businesses. The Japanese still say their markets are open and that U.S. demands amount to little more than quotas. Any compromise will...
Walter Mondale, U.S. Ambassador to Japan, agreed under intense pressure from Japanese trade minister Ryutaro Hashimoto to a June 12 trade summit in Geneva, three days before the G7 summit begins in Canada. The United States had threatened toimpose $5.9 billion in punitive tariffs on Japanese luxury carsif no agreement on access to Japan's auto market were reached by June 28, and had offered to resume talks with Japan on June 20. Tokyo stepped up pressure on the U.S. by complaining to the World Trade Organization (WTO), betting that the international group would likely rule in Japan's favor...
...auto parts -- everything from axles to mufflers to spark plugs. The U.S. claims that Japanese protectionism is evident from the fact that Japan has a 37% share of the U.S. parts market while American parts, which are of comparable quality, account for just 1.2% of the business in Japan. Hashimoto counters that it is not up to government officials to tell Japanese companies what products to buy and that any attempt to do so would violate free-trade principles...
...Japan, Hashimoto's hard line has played well, and his ambition to become Prime Minister could elude him if he appears to back down now. At the same time, his Liberal Democratic Party, which had governed Japan for some 45 years but is now only the largest faction in a coalition government, may no longer have the backroom clout to bring the country's powerful bureaucrats into a compromise that would avert a trade...