Japan's Abe hopes reaching win-win trade deal with US

TOKYO -- Japanese Prime Minister Shinzo Abe said on Friday that he hopes to reach a trade deal with the United States at an early juncture that would benefit both countries.

"It depends on future negotiations when we can reach a final agreement, so I can't say when now," the Japanese premier said.

"That said, there is no change in our stance that we will aim to achieve a win-win outcome at an early stage," Abe said at a press conference in Nagasaki, southwestern Japan.

As trade talks between both countries gather momentum, working-level talks are slated to be held next week in Washington ahead of the next round of ministerial negotiations later this month.

The ministerial meetings will be held between Japanese Economic Revitalization Minister Toshimitsu Motegi and US Trade Representative Robert Lighthizer.

Washington has voiced its concern about the significant trade deficit the US has with Japan, with US President Donald Trump looking to a new bilateral deal to address the trade imbalance.

Both parties have been eyeing September as the date to reach a deal, although for Japan's part, concerns remain about the hefty concessions it may have to make regarding its highly sensitive and protected agricultural products as well as its auto sector.

The US, however, may reach some kind of compromise with Japan, Motegi indicated after the previous round of ministerial talks with Lighthizer in early August.