Averting trade war, Japan and US agree to seek pact

Japan agreed Wednesday to negotiate a trade pact with the United States, easing fears that President Donald Trump would zero in on the US ally for his next tariff offensive.

Japanese Prime Minister Shinzo Abe and Trump, meeting on the sidelines of the annual UN General Assembly session, said they would open talks on goods with a view to building freer trade.

In a joint statement, Trump and Abe pledged to "refrain from taking measures against the spirit" of their understanding for as long as negotiations go on.

Abe, addressing reporters afterward, said Japan understood that the agreement meant the United States would not take any action under so-called Section 232 -- a US legal clause, of which Trump has become fond, that allows Washington to restrict imports due to concerns over national security.

"We must not set the hands of the clock backward," Abe said, calling instead for the two countries to "reinvigorate our mutual trade and investment." Abe formed an early bond with Trump after the real estate tycoon's unexpected election victory, with the two leaders since chatting more than two dozen times on the telephone, according to officials.

But Trump, who became a business celebrity in the 1980s when Japan's economic miracle looked unstoppable, has grumbled about the US trade deficit with Japan.

He recently told The Wall Street Journal that while he had good relations with Japan, "Of course, that will end as soon as I tell them how much they have to pay."