Continuity and change in U.S.-Japan economic relations
Past Event
Although frequent policy reversals from the Trump administration have created significant uncertainty domestically and abroad, the prognosis for U.S.-Japan relations is positive. Earlier fears, prompted by Japan-bashing on the campaign trail and the decision to withdraw from the Trans-Pacific Partnership Agreement (TPP), appear to have been allayed by President Trump’s meetings with Prime Minster Shinzo Abe in November 2016 and February of this year. However, plans for the U.S. to renegotiate its existing trade agreements and move forward only on bilateral trade agreements will have both a direct and indirect impact on Japan. As the new U.S. administration turns away from multilateral trade agreements and entertains major tax reforms, Japan must reformulate its trade and economic strategy, which had been pinned to the TPP as a means to jumpstart its economic growth strategy.
On May 2, the Center for East Asia Policy Studies at Brookings hosted a panel of distinguished Japanese politicians and U.S.-based economic experts for a discussion on the future of U.S.-Japan economic relations. Panelists addressed the outlook for Abenomics and Japan’s economic reform program, Japan’s trade policy post-TPP, prospects for the high level U.S.-Japan economic dialogue, and the impact of U.S. economic policies, such as border adjustment taxes, on the Japanese economy.
Agenda
Introduction
Richard C. Bush
Nonresident Senior Fellow - Foreign Policy, Center for East Asia Policy Studies, John L. Thornton China Center
Panelists
William G. Gale
The Arjay and Frances Fearing Miller Chair in Federal Economic Policy
Senior Fellow - Economic Studies
Director - Retirement Security Project
Co-Director - Urban-Brookings Tax Policy Center
Yoshimasa Hayashi
Member, House of Councillors - Liberal Democratic Party
Minister of Education, Culture, Sports, Science and Technology
Mireya Solís
Director - Center for East Asia Policy Studies
Senior Fellow - Foreign Policy, Center for East Asia Policy Studies
Philip Knight Chair in Japan Studies
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