The U.S. and Japan have made some progress on trade talks regarding points that are delaying the conclusion of the Trans Pacific Partnership (TPP). The third round of bilateral negotiations will be conducted in a month. The U.S. hopes to conclude the TPP agreement which include 12 Pacific Rim nations and includes the U.S., Canada, Mexico, New Zealand, and Malaysia among others, by the end of 2014 however there are various issue yet to be agreed upon. Japan has tried to take a protectionist stance regarding rice, wheat, beef, dairy, pork, and sugar, but exporting nations involved in the negotiations are pushing for a total elimination of tariffs. The U.S. is also closely watching a trade agreement being concluded between Australia and Japan which could give Australian agricultural goods better access to Japanese markets over U.S. goods.
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