A round of negotiations between Minister Motegi and Ambassador Lighthizer have not yielded significant progress in trade relations between Japan and the U.S. That’s partly due to foundational differences. One example is that Japan wants a multilateral deal, particularly American engagement in CPTPP, while the U.S. remains committed to bilateral deals. As a result there’s a missed opportunity to reach a “standstill” agreement similar to that the U.S. reached with the EU. Yet, the lack of progress is not a surprise given the scale and structure of America’s trade deficit with Japa...