Japan says it wasn't excluding Canada, Mexico during TPP side talks

OTTAWA - Japanese officials say they believed they were also negotiating with Canada and Mexico when they struck a controversial side agreement with the United States on automobiles last year during the Trans-Pacific Partnership talks.

See Full Article

They discussed the agreement with U.S., which angered Canada and Mexico, in a briefing ahead of a meeting between Foreign Affairs Minister Stephane Dion and his Japanese counterpart, Fumio Kishida.

The Japan-U.S. deal, which would have allowed a higher percentage of Japanese parts in cars in North America's highly integrated auto sector, stalled completion of the 12-country Pacific Rim deal by at least two months.

The Japanese officials say they were surprised to learn that they had negotiated a deal with only the United States, but they did not explain why they thought that.

Mexico's former ambassador to Canada has said the side deal angered the Canadians and Mexicans and nearly drove the two countries from the bargaining table.

Japan hosts this year's G7 summit, and Dion and Kishida have a broad agenda that also includes combating terrorism and nuclear proliferation.


Latest Economic News

  • National Bank shaking up workforce, with 600 departures and 500 hires

    Economic CTV News
    MONTREAL -- National Bank of Canada says it's planning to cut 600 employees -- about half through a targeted retirement program -- as it adapts to a technological shift in the banking industry. At the same time, the Montreal-based bank expects to fill 500 other positions over the same period, primarily in sales and service and information technology jobs. Source
  • British economy grows more than expected after Brexit vote

    Economic CTV News
    LONDON -- Britain's economy grew faster than expected in the three months after its vote to leave the European Union despite concern that uncertainty over the country's future would weigh on business. The figures, however, are preliminary and experts warn they do not yet reflect some of the looming negative impacts, such as an expected rise in inflation. Source
  • Twitter cuts 9 per cent of its workforce worldwide

    Economic CTV News
    NEW YORK -- Twitter, seemingly unable to find a buyer and losing money, is cutting about 9 per cent of its employees worldwide. Twitter Inc., which has struggled amid competition from the likes of Facebook, Snapchat and Instagram, said Thursday that it expects to book about $10 million to $20 million in workforce restructuring charges. Source
  • Twitter slashes staff with revenue under pressure

    Economic CTV News
    NEW YORK -- Twitter, seemingly unable to find a buyer and losing money, is cutting about 9 per cent of its employees worldwide. The social media site has failed to keep pace with rivals Facebook, Snapchat and Instagram and in recent months, rumours that it would be acquired have run rampant. Source
  • With or without sale, changes could come to Twitter

    Economic CTV News
    NEW YORK - Sale or no sale, Twitter users are bound to see changes as the beleaguered communications service tries to broaden its appeal to more people and advertisers. A new owner could clean up Twitter and curb some of the nastiness that's become synonymous with it. Source
  • Pipeline protesters brace for confrontation with police

    Economic CTV News
    CANNON BALL, N.D. - Protesters trying to stop construction of the Dakota Access oil pipeline were bracing for a confrontation with police Thursday after the demonstrators refused to leave private land in the pipeline's path. Source
  • Samsung heir joins board, moving toward top leadership role

    Economic CTV News
    SEOUL, Korea, Republic Of - The grandson of Samsung's founder is stepping up as its new leader after the failure of the company's flagship smartphone, the Galaxy Note 7. Shareholders of Samsung Electronics Co. Source
  • Suncor production rebound after Fort McMurray fire leads to profit

    Economic CTV News
    CALGARY - Oilsands giant Suncor Energy is reporting net third-quarter earnings of $392 million compared with a net loss of $376 million in the same period of last year. The Calgary-based company reports a strong production rebound after second-quarter interruptions caused by the wildfire that swept through Fort McMurray, Alta. Source
  • Asian stocks lower as investors examine company earnings

    Economic CTV News
    HONG KONG - Stocks retreated in most Asian markets on Thursday as investors assessed a fresh round of corporate earnings from major companies across the region. KEEPING SCORE: Japan's benchmark Nikkei 225 index slipped 0.5 per cent to 17,303.27 while South Korea's Kospi rose 0.3 per cent to 2,019.09. Source
  • World stock markets cautious amid company earnings

    Economic CTV News
    HONG KONG -- Global stock markets were steady on Thursday as investors weighed a mixed batch of corporate earnings reports and economic data. KEEPING SCORE: Germany's DAX stock index was flat at 10,710 and France's CAC 40 slipped 0.2 per cent to 4,527. Source