• Kyodo

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The United States on Thursday urged Japan to further deregulate its telecommunications, information technology and energy markets and overhaul its commercial code, with a senior U.S. official describing the state of the Japanese economy as being in “a deep funk.”

Deputy U.S. Trade Representative Richard Fisher, speaking to reporters after two days of sub-Cabinet-level talks with Japan, attacked the Japanese commercial code as “outdated” and said it needs to be overhauled.

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