U.s.-Japan Trade Agreement

As we all celebrated the New Year, January 1, 2020 silently launched a new trade deal for the United States. The Trade Agreement between the United States of America and Japan is the latest free trade agreement that benefits U.S. importers and exporters.1 The U.S.-Japan Trade Agreement, signed on October 7, 20192 with the U.S.-Japan Digital Agreement, only entered into force on New Year`s Day, after the evolution of the legal procedures in force. It is important that these are not automobiles and auto parts, but the two countries have agreed to continue negotiations to eliminate tariffs on these types of goods.3 as well as on 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. Companies dealing with Japan and U.S. trade are encouraged to review the text of the agreements and understand the potential benefits. To this end, companies may consider emergency measures: this Agreement provides for the limited use of safeguard measures allowing for temporary increases in customs duties when imports exceed a predetermined trigger level. Japan will have protective measures for beef, pork, whey, oranges and racehorses. The tables below provide updated information on the trigger values of safeguard measures and trade volumes applicable for the current and past financial year in Japan (JFY). 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. The Digital Agreement is a separate agreement that establishes rules in the digital space15 The content of the Digital Agreement is practically in line with the provisions of the Agreement between the United States, Mexico and Canada (USMCA). Notable provisions include the prohibition of customs duties on electronically transmitted content (e.g. .B. software and music) and the recognition of an electronic signature as a legally appropriate means of authentication. . . .

Copyright 2021 CommuniCLARITY · RSS Feed · Log in


Organic Themes