The joint United States-Japan Trade and Economic Affairs committee met in Washington on Thursday (9 September), in the shadow of the currency crises.
The joint United States-Japan Trade and Economic Affairs committee met in Washington on Thursday (9 September), in the shadow of the currency crises. The first day of the two-day meeting was dominated by US requests for an upwards revaluation of the Yen, and by Japanese calls for a quick end to President Nixon's 10 per cent import surcharge.
Senior state department officials said later that Secretary of State William Rogers, head of the US delegation, had expressed his disappointment to Japanese Ministers over the lack of progress on trade liberalisation in Japan.
SYNOPSIS: In Washington, Ministers from the United States and Japan met on Thursday for the eighth session of the joint committee on trade and economic affairs. The Japanese delegation was led by Foreign Minister Tekeo Fukuda. The committee met in the shadow of the world currency crises sparked off by the dollar devaluation, which dominated the first days talks. The United States urged the upwards revaluation of the Japanese yen, and other foreign currencies; and Japan countered by calling for a quick end to President Nixon's 10 per cent import surcharge.
Secretary of State William Rogers led the United States delegation - senior state department officials later quoted him as having expressed his disappointment to Japanese cabinet ministers on what he felt was a lack of progress on trade liberalisation. Japan has been the country hardest hit by the American economic reform.
On Friday, the final day of the meeting Japan said it would cooperate in balance of payments problems, if America did its share.