7304. 4/19/2017

FOREIGN POLICY/JAPAN/JOBS/MIKE PENCE: “Vice President Mike Pence praised investment by Toyota Motor Corp. and other Japanese companies in the U.S. while avoiding criticism of Tokyo’s trade practices, drawing a relieved welcome from business leaders here…
The election of President Donald Trump and some of his tweets thereafter led to concern in Tokyo about the possibility of fundamental change in economic policy in the U.S., which buys some $130 billion in Japanese-made goods annually. ‘When did we beat Japan at anything?’ Mr. Trump asked in the speech opening his campaign in June 2015, adding: ‘They beat us all the time.’…
In a business speech in Tokyo, Mr. Pence depicted the U.S.-Japan economic relationship as a healthy one that could be improved further through changes advocated by Mr. Trump such as lower corporate taxes and fewer environmental regulations, which would encourage Japanese investment. He praised Toyota by name for its pledge to invest $10 billion over five years in the U.S., although much of that figure incorporates previous plans to refurbish factories under a global production strategy.
Critics of Japan’s trade practices point to the large U.S. trade deficit with Japan—$69 billion in 2016—as well as Tokyo’s tariffs on beef and pork and the low market share of American-made cars in Japan.”

-Peter Landers, “Pence Praises Toyota, Says Economic Ties With Japan Can Improve,” The Wall Street Journal online, April 19, 2017 10:33am

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