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U.S. to scrap auto tariffs gradually in TPP-Japan government

2013-04-12T102503Z_3_CBRE93B0OWJ00_3_JAPAN.JPG

 (Copyright Reuters 2013)

The United States will scrap auto tariffs gradually under an extended period under a Trans-Pacific Partnership (TPP) free trade pact, the Japanese government said in a statement after the two countries agreed on a deal that will allow Tokyo to take part in talks on the Asia-Pacific trade agreement.

The bilateral agreement brings Japan closer to entering TPP talks, which Prime Minister Shinzo Abe has made part of a "third arrow" in his "Abenomics" policy, after fiscal spending and drastic monetary easing.

(Reporting by Kaori Kaneko; Writing by Linda Sieg; Editing by Robert Birsel)