Home » Open Trade » Japan » Japan Moves A Step Towards Finalizing Trade Deal With United States

Japan Moves A Step Towards Finalizing Trade Deal With United States

Japan’s Lower House recently approved trade deal with the United States that cuts tariffs on farm and industrial products, taking a step toward its entry into force next year. Under the deal, Japan will gradually lower its 38.5 percent tariff on U.S. beef to 9 percent, and remove or reduce its tariffs on U.S. pork. Other American products, including cheese, wine and wheat, will also gain greater access to the Japanese market. The United States, for its part, will remove or reduce tariffs on some types of manufacturing equipment as well as for other industrial products, including parts for air conditioners and trains from Japan.

source: Japan Times