1. On the occasion of our Summit Meeting in New York on September 26, 2018, we, President Donald J. Trump and Prime Minister Shinzo Abe, affirmed the importance of a strong, stable, and mutually beneficial trade and economic relationship between the United States and Japan, recognizing that our economies together represent approximately 30 percent of global Gross Domestic Product. The President reiterated the importance of reciprocal trade, as well as reducing the trade deficit with Japan and other countries. The Prime Minister emphasized the importance of free, fair, and rules-based trade.
2. Against this backdrop, we reaffirmed our determination to further expand trade and investment between the United States and Japan in a mutually beneficial manner, including through further concrete steps, as well as to realize free, fair, and open development of the global economy.
3. The United States and Japan will enter into negotiations, following the completion of necessary domestic procedures, for a United States–Japan Trade Agreement on goods, as well as on other key areas including services, that can produce early achievements.
4. The United States and Japan also intend to have negotiations on other trade and investment items following the completion of the discussions of the agreement mentioned above.
5. The agreement mentioned above is designed to be mutually beneficial, and, in conducting those negotiations, the United States and Japan will respect positions of the other government:
For the United States, market access outcomes in the motor vehicle sector will be designed to increase production and jobs in the United States in the motor vehicle industries; and
For Japan, with regard to agricultural, forestry, and fishery products, outcomes related to market access as reflected in Japan’s previous economic partnership agreements constitute the maximum level.
6. The United States and Japan will also strengthen cooperation to better protect American and Japanese companies and workers from non-market oriented policies and practices by third countries. We will therefore work closely together, through United States–Japan as well as United States–Japan–European Union cooperation, to promote discussions on World Trade Organization reform and e-commerce and to address unfair trading practices including intellectual property theft, forced technology transfer, trade-distorting industrial subsidies, distortions created by state-owned enterprises, and overcapacity.
7. The United States and Japan will conduct these discussions based on mutual trust, and refrain from taking measures against the spirit of this joint statement during the process of these consultations. In addition, we will make efforts for the early solution of other tariff-related issues.