NAFTA renegotiations are under way, and I hope that they will conclude in a form that preserves the current trilateral framework and maintains free trade as far as possible. It is not yet possible to predict the effects of revising rules of origin. We will continue to closely monitor the talks.
US Trade Policy
If additional tariffs were to be levied on vehicles imported from Japan, sales prices would rise. The greatest impact would be felt by US consumers and dealers. Such a move would also have major effects on supply chains. US state governors and businesspeople share our awareness of these points. However, we cannot foresee the extent to which their views will be reflected in the policies of the Trump administration.
In dealing with China, it is imperative to reiterate the need to ensure that companies can act in accordance with capitalist business practices. For example, antimonopoly law investigations relating to corporate mergers in China take longer for foreign companies than for Chinese enterprises, and more conditions are sometimes imposed. Fair conditions for competing and cooperating are a fundamental principle of business activity. During my visit to China beginning next week I would like to engage in policy dialogue with Chinese political leaders aimed at resolving such issues.
Welcoming Foreign Workers
The homogeneity of Japanese society is becoming a weakness, and we need to promote greater social diversity. Organizations lacking in diversity do not generate the insights required to thrive in a globalized business environment. I believe that debate among Japanese people only might be barrier for global business competition. However, circumstances differ from one industry to the next. After thoroughly discussing with our members the kinds of systems and preparations needed to welcome foreign workers, Keidanren will present our views on accepting foreign workers.