World Trade Agreement Japan

Under President Trump`s leadership, the United States and Japan reached agreement on early negotiating successes in the areas of market access for selected agricultural and industrial products, as well as digital trade. The United States looks forward to further negotiations with Japan for a comprehensive agreement that addresses remaining tariff and non-tariff barriers and results in fairer and more balanced trade. Describes the trade agreements in which this country is involved. Provides resources for U.S. companies to obtain information on the use of these agreements. Information on industry agreements between the United States and Japan is available on the Department of Commerce`s Law Enforcement and Compliance website. The United States-Japan Trade Agreement (USJTA) entered into force on January 1, 2020. In this agreement, Japan committed to providing substantial market access to the United States by phasing out most tariffs, making significant tariff reductions, or allowing a number of imports at a lower tariff. Once the USJTA is fully implemented, nearly 90 percent of U.S.

food and agricultural products imported into Japan will be duty-free or benefit from preferential tariff access. A list of japan`s other trade agreements and EPAs, as well as trade agreements under negotiation, can be found at this link from the Japanese Ministry of Foreign Affairs. Japan had also concluded Economic Partnership Agreements (EPAs) with these 14 countries, as well as with ASEAN: notable agreements include the EPA for Japan and the European Union (EU), which entered into force in February 2019. A text of the agreement can be found here. In 2018, Japan and six other countries (Australia, Canada, Mexico, New Zealand, Singapore, Vietnam) signed and ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Four other countries (Brunei, Chile, Malaysia, Peru) are signatories but have not yet ratified the CPTPP. The United States and Japan have concluded a trade agreement on market access for certain agricultural and industrial products, with the intention of continuing further negotiations on an extended free trade agreement. On October 17, 2019, the United States and Japan concluded a market access agreement for certain agricultural and industrial products. Japanese lawmaker approved the agreement on December 5, 2019. President`s Proclamation 9974 was issued on December 26, 2019 and sets a date for the effective date of January 1, 2020.

On the 30th. In December 2019, the Federal Register notice (84 FR 72187) was published to implement the agreement. On 23 October 2020, Japan and the United Kingdom signed a Comprehensive Economic Partnership Agreement (CEPA). The two governments had previously reached an agreement in principle by videoconference on 11 September on this agreement, which is largely based on the Economic Partnership Agreement between Japan and the European Union. The trade agreement between Japan and the United Kingdom has not yet been approved by the Japanese National Parliament and the British Parliament, which both governments are expected to receive by the end of the year for entry into force on 1 January 2021. A full text of the agreement is available from the Japanese Foreign Office (here) and a summary is available from the UK government (here). In October 2019, the United States and Japan signed the U.S.-Japan Trade Agreement and the U.S.-Japan Digital Trade Agreement, which entered into effect on January 1, 2020. The U.S.-Japan trade deal eliminates or reduces tariffs to about $7.2 billion in the U.S. Agricultural exports and the U.S.-Japan Digital Trade Agreement include high-level provisions that ensure data can be transferred across borders without restrictions, guarantee consumer privacy, promote adherence to common principles to address cybersecurity challenges, support the effective use of encryption technologies, and boost digital trade.

Since 2012, Japan has been conducting ongoing negotiations on a Regional Comprehensive Economic Partnership free trade agreement with several countries, including: Japan is a full member of the World Trade Organization (WTO). . 2. CONCLUSION OF A HIGH-LEVEL DIGITAL TRADE AGREEMENT See the TPR portal for explanations and context The United States will provide for the abolition or reduction of tariffs on 241 tariff items. Affected agricultural products include perennials and cut flowers, persimmons, green tea, chewing gum and soy sauce. The United States will also reduce or eliminate tariffs on certain industrial products from Japan, such as certain machine tools, fasteners, steam turbines, bicycles, bicycle parts and musical instruments. Annex II to the Agreement sets out the rules of origin used to determine whether a good is eligible for preferential tariff treatment or whether it has “originating goods” from the Agreement. The product-specific provisions (Annex II to the Agreement) determine the extent to which tariff classification must be used by which non-originating materials must be modified. .