The Japanese government is preparing to launch trade talks with the Mercosur trade bloc in South America to conclude an economic partnership agreement, it was learned Sunday.
The move comes as the government believes that it is necessary to expand markets and diversify supply chains for critical materials in response to U.S. President Donald Trump's tariff policy and China's restrictions on rare earth exports, informed sources said.
Earlier this year, Japan and Mercosur held two meetings on their strategic partnership framework, discussing ways to strengthen cooperation in the fields of trade and investment, as well as areas of interest for a potential trade deal.
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