The US has called for a new bilateral agreement on flat glass, as it is frustrated over the ineffectiveness of the current accord in boosting the presence of foreign-made products in Japan, a US trade…
The US has called for a new bilateral agreement on flat glass, as it is frustrated over the ineffectiveness of the current accord in boosting the presence of foreign-made products in Japan, a US trade official said recently. The current accord, signed in 1995, expires at the end of this year. Tokyo rejected the proposal, saying the Japanese flat-glass market is already open. “We believe Japan and the US should negotiate a new agreement” to boost foreign manufacturers“ presence in Japan, the US official said after concluding a two-day bilateral meeting on the issue in Tokyo. The current agreement has failed to achieve its objective of substantially increasing access for US flat-glass manufacturers to the Japanese market, according to the official, speaking on condition of anonymity. Four of the world“s five largest flat-glass manufacturers, including a Japanese company, continue to sell an insignificant amount of flat-glass products in the Japanese market, with US exports of a certain product 50% lower than those when the agreement was signed. The Japanese market is open, as the volume of imports from the US far exceeds exports to the US. The proposed new agreement covers inward investment in Japan by foreign manufactures, dialogue between Japanese and US flat-glass industries and anticompetitive practices in Japan“s flat-glass market, said the US official. He added that the two sides have different views on the issue, but agreed to continue discussions.