Japan-United States Framework Talks

A mechanism to work the problems out by two-way dialogue

Q.

I heard that Japan and the United States negotiate economic issues under the Japan-United States Framework Talks. What sort of mechanism is it ?

A.

The Japan-U.S. Framework Talks have been and still are a main mechanism to manage economic issues between the two nations. The Framework Talks were inaugurated in July 1993 after then Prime Minister Miyazawa and President Clinton had agreed, in April of the same year, to hold them.

The following are the three main areas of concern in the Framework Talks: each country is to pursue its macroeconomic goals, with Japan reducing its current account surplus and the United States encouraging domestic savings; consultations between Japan and the United States are to address issues in such sectors as government procurement, insurance, autos and auto parts; and, both countries support the Common Agenda for Cooperation in Global Perspective.