Deputy U.S. Trade Representative Richard Fisher reiterated Thursday that his administration will oppose the Senate's expected move next week to enact a "quota bill" to restrict the amount of steel imports.
"We believe that the quota bill would be destructive, send a wrong signal to the rest of the world and would not be in keeping with what we should be keeping (for free trade)," Fisher told reporters in Tokyo via a televised conference from Washington.
Noting a significant decline in Japanese steel exports to the U.S. in recent months, Fisher said the actual tonnage of steel imported to the U.S. is now running at the level that the quota bill would require.
Fisher also urged Japan to commit itself to liberalizing its fishery and forestry sectors at the coming Asia-Pacific Economic Cooperation forum conference later this month in New Zealand.
To advance liberalization of the two sectors, along with seven other APEC forefront sectors, toward the millennium round of the World Trade Organization as agreed upon in Kuala Lumpur last November, Fisher said APEC members must build momentum in New Zealand.
The issue has been left pending because of Japan's resistance to early sectoral liberalization in the two areas under the APEC initiative.
Fisher added that in order for Japan to achieve sustained growth, it must combine its ongoing effort in fiscal and monetary policy reforms with enhanced deregulation.