Japan's Motegi holds trade talks with US, still prefers TPP deal - Reuters

As reported by Reuters, Japan's Economy Minister Toshimitsu Motegi had a "frank exchange" with US Trade Representative Robert Lighthizer, but Japan seems to have stuck to its guns on trade with the US, preferring to avoid any bilateral agreements.

Key quotes

" “We had a frank exchange of views and deepened mutual understanding,” Motegi told reporters after several hours of meetings, which he said would continue on Friday. But he reiterated Japan’s view that multilateral talks, which Washington has abandoned, are the best way to address trade issues. Tokyo wants to avoid a bilateral free-trade agreement - which Lighthizer called for in the past - where it could come under pressure over access to its auto and agricultural markets.

President Donald Trump pulled the United States out of the Trans-Pacific Partnership, calling it a bad deal and saying he preferred bilateral talks. “I will say what I can after the first round of talks end,” Motegi told reporters.

He also said Japan and the United States shared an understanding that both nations wanted to achieve early results."