Trump, Abe fail to reach deal on exemption

Associated Press

PALM BEACH, Fla.

President Donald Trump and Japanese Prime Minister Shinzo Abe said Wednesday they had failed to reach a deal that would exempt Japan from new U.S. steel and aluminum tariffs.

Instead, the leaders announced they had agreed to start talks on a new “free, fair and reciprocal” trade agreement between the two countries after two days of talks.

“If we can come to an arrangement on a new deal, that would certainly be something we would discuss,” Trump said when asked about the tariffs during a joint press conference at his private Mar-a-Lago club.

But he said the current trade deficit between the two countries was too high to merit an exemption now.