News Summary: US trade rep urges Japan to open up

News Summary: US trade representative urges Japan to open market for autos, insurance

Associated Press

TALKING TRADE: U.S. Trade Representative Michael Froman urged Japan to open its market to American cars and insurance companies, which would pave the way for a broader regional free trade agreement.

CARS AND INSURANCE?: Imported vehicles make up only a tiny fraction of the Japanese market, compared with nearly half of the U.S. auto market. The U.S. also believes that Japanese government-backed insurance services run by the post office have an advantage over private and foreign companies.

THE BACKGROUND: Japan joined the Trans-Pacific Partnership negotiations involving 12 countries on July 23, aimed at achieving regional free trade.

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