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By 1972 Japan's surplus had climbed to US$5.1 billion, despite the reevaluation of the yen in 1971. The jump in prices of petroleum and other raw materials during 1973 plunged the balance of trade into deficit, and in 1974 the deficit reached US$6.6 billion. With strong export growth, however, this was reversed to a surplus of US$2.4 billion in ...
In 1990 the major European buyers of Japanese exports were West Germany (US$17.7 billion) and Britain (US$10.7 billion). The largest European suppliers to Japan were West Germany (US$11.5 billion), France (US$7.6 billion), and Britain (US$5.2 billion). Traditionally, West European countries had trade deficits with Japan, and this continued to ...
From a Japanese perspective, the revised U.S.-Japan Security Treaty signed in January 1960, known as "Anpo" in Japanese, represented significant improvement over the original treaty, committing the United States to defend Japan in an attack, requiring prior consultation with the Japanese government before dispatching US forces based in Japan ...
The Ministry's predecessor, the Ministry of International Trade and Industry, was in operation from 25 May 1949 to 5 January 2001.However, due to the reorganisation of central government ministries and agencies on 6 January 2001, the Ministry of Economy, Trade and Industry was established by reorganising and renaming the Ministry of International Trade and Industry.
Japan External Trade Organization (日本貿易振興機構, Nihon Bōeki Shinkōkikō, also ジェトロ; JETRO) is an Independent Administrative Institution established by Japan Export Trade Research Organization as a nonprofit corporation in Osaka in February 1952, reorganized under the Ministry of International Trade and Industry (MITI) in 1958 (later the Ministry of Economy, Trade and ...
USTR was established as the Office of the Special Trade Representative (STR) by the Trade Expansion Act of 1962, leads trade negotiations at bilateral and multilateral levels, and coordinates trade policy with other government agencies through the Trade Policy Committee [2] (TPC), Trade Policy Committee Review Group [3] (TPCRG), and Trade ...
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Japan–United States relations continued to evolve throughout the Cold War and into the 21st century, with periods of cooperation and occasional trade disputes. The two nations maintain strong economic ties, and Japan is a crucial ally of the United States in Asia.