Us Japan Trade Agreement On Goods

The application of reduced or eliminated customs duties for imports into Japan depends on the customs code of the product, as set out in Japan`s schedule in Annex I to the Trade Agreement.10 Products may be subject to tariff reduction, tariff elimination or the phasing out of customs duties. The tariff reduction will take place over several years and will cover $2.9 billion worth of products, such as fresh and frozen beef and pork. The elimination of tariffs takes immediate effect on $1.3 billion worth of products, including almonds, cinnamon trees and broccoli. The phase-out of tariffs will also take place over several years and will include $3 billion in goods such as wine, cheese, frozen poultry and egg products. 2. #. Under President Trump`s leadership, the United States and Japan agreed on the early outcomes of negotiations on market access for selected agricultural and industrial products as well as digital trade. The United States looks forward to continuing negotiations with Japan for a comprehensive agreement on the remaining tariff and non-tariff barriers and to achieving fairer and more balanced trade. USDA Japan has developed a series of product descriptions that provide a brief overview of the impact of the USJTA on certain product categories.

Please note that the information provided is not complete and other details are available in the text of the contract itself. Nearly three years after his presidency, Trump had secured just one other trade deal that went into effect — a minor renegotiation of the U.S.-Korea free trade agreement. Its negotiators have also reached an agreement on a new North American Free Trade Agreement (NAFTA), which has yet to be passed by both the Senate and the democratically controlled House of Representatives. The U.S.-Japan Trade Agreement (USJTA) entered into effect on January 1, 2020. In this agreement, Japan committed to granting the United States significant market access by removing most tariffs, discouraging significant tariff reductions, or allowing a certain amount of imports at a lower tariff. Once the USJTA is fully implemented, nearly 90% of U.S. agricultural products and products imported into Japan will be duty-free or have preferential access to tariffs. The full text of the agreement and fact sheets are available on the USTR Trade Representative (USTR) website. Japan is the United States` fourth-largest goods trading partner, and the two countries concluded $217.6 billion in bilateral merchandise trade in 2018. ==Location of evidence===== Agricultural exports to Japan totaled $13 billion in 2018, making Japan the third-largest agricultural export market and undersizing Japan`s importance to U.S. farmers. The U.S.

will eliminate or reduce tariffs on 241 lines. The agricultural products concerned include multi-year cut plants and flowers, persimmon, green tea, chewing gum and soy sauce. The U.S. will also reduce or eliminate tariffs on certain Japanese industrial goods, such as certain tools, fasteners, steam turbines, bicycles, bicycle parts, and musical instruments.