Tokyo, 18 November 2021 (TDI): Japanese Foreign Minister, Hayashi Yoshimasa held an official meeting with the Secretary of Commerce of the United States of America, Gina Raimondo, to discuss trade opportunities.
This is the US Secretary’s first official visit to Japan. She is visiting Asia for a diplomatic engagement. The Japanese Foreign Minister emphasized that Gina Raimondo’s visit symbolizes the deep-rooted Japna-US, whereas Secretary Raimondo on her part reiterated the importance of Japan for the United States (US).
The two had a constructive discussion on a wide range of issues pertaining to mutual benefit. They discussed the international order in the Indo-Pacific as well as Japan-US cooperation in economic security; to inculcate supply chain resilience.
Secretary Raimondo expressed the distinct intentions of the US regarding the advancement of economic cooperation between the two allies. The US considers Japan to be one of its closest partners and allies.
Japan-US Ties
Japan is one of the most pro-American nations in the world. The two collaborate in economic, trade, defense, and diplomatic spheres. Presently, Japan is the fourth-largest trading partner of the US with $183.6 billion in two-way goods trade during 2020.
Military Alliance
Officially, US-Japan military alliance began in 1952 with the signing of the Treaty of San Francisco. In the wake of World War II, Japan pursued economic and political development and shunned military expansion and development.
As a result, the US extended the nuclear umbrella for Japan in return. That means that the US will defend and support Japan in case of an attack.
Economic Cooperation
The economic relation between US and Japan is strong and mutually advantageous. The economies of both countries are profoundly integrated through trade in goods and services.
Both serve as large markets for important sources of imports as well as each other’s exports. Moreover, the two partners are closely connected by capital flows.
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