Japan is considering creating quotas for low or no-tariff imports of main agricultural products such as beef and pork in a rush to seal an ambitious Pacific trade deal, Japanese media said on Sunday.
A stand-off between the United States and Japan over access to farm and auto markets has been holding up negotiations over a 12-nation trade pact, known as the Trans-Pacific Partnership (TPP).
A bilateral agreement between the two economies, which dominate the TPP, is key to a deal among the 12 nations, which account for 40% of the world economy. Negotiators had hoped to clinch a deal by 2014. Click here to read more.