Trump, Japan’s Abe agree to intensify trade talks

PALM BEACH, Forida - US President Donald Trump and Japanese Prime Minister Shinzo Abe said on Wednesday they had agreed to intensify trade consultations between the two longtime allies, with an aim to expand investment and trade between both countries.

"President Trump and I agreed to start talks for free, fair and reciprocal trade deals," Abe said at a joint news conference with Trump.

Trump reaffirmed his desire at the news conference to address trade imbalances with Japan, saying he preferred one-on-one talks to negotiate a bilateral deal aimed at trimming the US trade deficit.

While the leaders said they had agreed to have top advisers pursue talks, Abe made clear that differences remained in each country's approach.

"On the US side, they are interested in a bilateral deal," Abe told reporters. "Our country's position is that TPP is the best for both of our countries," he added, referring to the Trans-Pacific Partnership.

The TPP was sought by former Democratic President Barack Obama. Trump abandoned it during his first weeks in office, saying it is not a good deal for the United States. —Reuters