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| A free trade pact between the United States and South Korea has cranked up the pressure on another top American ally in Asia to move forward on a similar agreement with Washington: Japan.
The deal wrapped up in Seoul on Monday, which still requires legislative approval, would slash tariffs on South Korean exports to the lucrative American market — putting many Japanese companies at a potential disadvantage. While Tokyo has pursued free trade deals with other Pacific Rim nations, the U.S.-South Korean accord spurred fears that Japan might fall behind in the global race to cut trade barriers. Japanese Trade Minister Akira Amari compared it to the U.S. naval flotilla that forced feudal Japan to open up to the outside world in the 1850s. “It is like a ‘black-ship’ effect,” Amari said Tuesday. “But I think it will be a stimulus to gather everyone’s wisdom so that we will not be left behind as other countries pursue more and more” free trade pacts. The idea of a trade agreement between the United States and Japan — the world’s two biggest economies — has been floated for decades, but the two sides have never launched serious discussions on it. |
Vocabulary
crank up：To cause to intensify, as in volume or force: cranks up the sound on the stereo.
wrap up：To bring to a conclusion; settle finally or successfully: wrap up a business deal.
lucrative：Producing wealth; profitable: a lucrative income; a lucrative marketing strategy
stimulus：Something causing or regarded as causing a response.
naval flotilla：海军舰队
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