Japan and the US conclude consultations on new trade agreement


TOKYO (Sputnik) – Japan and the United States have concluded negotiations on a new trade agreement between the two countries, Japanese Foreign Minister Toshimitsu Motegi said at a press conference at the end of a meeting with the US delegation outside of the UN General Assembly in New York.

"Today, the negotiations are completely over. We would like to announce the content (of the agreement) shortly after it is confirmed at a meeting of the leaders (from Japan and the US)," said the chancellor quoted by NHK television.

Trade negotiations between Japan and the US began after the administration of US President Donald Trump announced the withdrawal of his country from the Trans-Pacific Economic Cooperation Agreement (TPP), signed by 12 states.
Trump's discontent is caused, in particular, by the terms of Japanese car imports. Trump decided to postpone the imposition of tariffs on Japanese cars and spare parts for six months.

According to the United States trade representative, Robert Lightheiser, the tariffs Japanese cars will remain in force, even after the signing of a commercial agreement.

Japanese media reported in mid-September that under the new agreement, Japan within the next five to seven years would lift restrictions on imports of US wines.

US wine distributors are expected to reduce costs by 13%, if tariffs (125 yen or about $ 1.16 per liter) are canceled.

In addition, according to Japanese media, the Japanese government intends to reduce tariffs on US beef imports from 38.5 to 9% by 2033.

Source link


Please enter your comment!
Please enter your name here