[ Capabilities ][ Staff ][ Clients ][ Press ][ Library ][ Contact ]| (JETRO) MITI Minister Yosano Comments on the Japan-U.S. Steel Trade NEW YORK -- January 12, 1999 This morning the Japanese Minister of International Trade and Industry (MITI), Kaoru Yosano, met with Ambassador Charlene Barshefsky and Secretary of Commerce William Daley to discuss a number of bilateral trade issues including the Japan-U.S. steel trade. Following this meeting, Minister Yosano released the following statement: "With respect to the steel trade, I explained to Ambassador Charlene Barshefsky and Secretary of Commerce William Daley that Japanese steel exports to the U.S. in 1998 increased due to the following two factors: 1) robust steel demand in the U.S., and 2) a shortfall of the supply capacity of U.S. steel mills. In addition, I conveyed to my counterparts the forecasts by Japanese steel mills which suggest that Japanese steel exports to the U.S. in fiscal year 1999 will decrease close to the level that existed in fiscal year 1997 owing to such factors as a projected decline in U.S. steel demand and the impact of the stronger yen. What I conveyed are forecasts of Japanese steel mills and it constitutes neither my promise as MITI Minister, nor should it be construed as a commitment by the Government of Japan. I believe that this will allay the U.S. concern over steel imports from Japan. I, therefore, called on the U.S. Government to work together with Japan to maintain and strengthen free trade." This material is published and disseminated by JETRO New York, 1221 Avenue of the Americas, New York, NY 10020 in coordination with KWR International, Inc. 140 West End Avenue, New York, NY 10023, Tel: 212-799-4294, Fax: 212-799-0517, E-mail: kwrintl@kwrintl.com . JETRO New York is registered as an agent of the Japan External Trade Organization, Tokyo, Japan and KWR International, Inc. is registered on behalf of JETRO New York. This material is filed with the Department of Justice where the required registration statement is available for public viewing. --30--flb/ny* CONTACT: JETRO NY |
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