The administration of U.S. President Donald Trump will negotiate "new and better trade deals" with "countries in key markets" to provide a freer and fairer deal for American workers and businesses, the Office of the U.S. Trade Representative (USTR) said in an annual report released on Wednesday.

The report submitted to Congress stopped short of naming the key economies the United States will bilaterally negotiate with on increased market access, but Japan is almost certainly among them.

Referring to the U.S. withdrawal in late January from the 12-nation Trans-Pacific Partnership free trade agreement, the report said it "paved the way for potential bilateral talks with the remaining TPP countries," including Japan.