Obama-Abe summit to aid trade talks, not seal deal: U.S. official

A senior U.S. administration official said on Friday that the next week’s meeting between U.S. President Barack Obama and Japanese Prime Minister Shinzo Abe is a good opportunity to give impetus to Pacific trade negotiations but will not seal a deal.

According to Reuters, officials of both countries said the talks between the United States and Japan seen as vital to a broader regional trade pact had narrowed to a few critical areas and will resume again on Monday as negotiators hustle to prepare for Thursday’s summit.

Breaking a U.S.-Japan deadlock over access to Japan’s farm and auto markets is seen as key to finalizing the Trans-Pacific Partnership (TPP), a 12-nation trade bloc that would stretch from Asia to Latin America.

The TPP is central to Obama’s policy of expanding America’s presence in Asia and Abe, for his part, has touted the TPP as a main element of his strategy to reform the world’s third-largest economy and generate sustainable growth.