WASHINGTON - Ways and Means Trade Subcommittee Ranking Member Charles Rangel (D-NY) made the following statement today regarding the Obama administration’s announcement concerning Japan’s possible entry into the Trans-Pacific Partnership negotiations:
“I don’t think this framework will lead to an opening of the Japanese automotive market. In fact, over time, it may even worsen our massive trade deficits with Japan. And on insurance, all Japan agreed to do was to not make a bad situation any worse (a ‘standstill’ provision) - and only for some insurance products. So we will have a lot to discuss with the Administration in the next 90 days, before any TPP negotiations with Japan can begin."
