4. www.whitehouse.gov/briefings-statements/joint-statement-united-states-japan/. Businesses with Japan and U.S. trade are invited to review the text of the agreements and understand the potential benefits. To this end, emergency measures can be considered by companies: 6. EY Global Tax Alert, USTR grants new exclusions for lists 1, 2 and 3 for products originating in China; The United States and Japan agree on merchandise trade and digital trade from September 27, 2019. Under President Trump`s leadership, the United States and Japan agreed on early outcomes of negotiations on market access for certain agricultural and industrial products, as well as digital trade. The United States looks forward to continuing negotiations with Japan for a comprehensive agreement that would address the remaining tariff and non-tariff barriers and ensure fairer and more balanced trade. On September 26, 2018, President Trump and Prime Minister Abe announced that the United States and Japan would begin negotiations for a trade agreement between the United States and Japan. On October 16, 2018, the USTR formally informed Congress that the Trump administration intends to begin negotiations after the necessary internal procedures. Thus began a 90-day consultation period under the Trade Promotion Authority, mandated by Congress, before negotiations began. Public notices on the negotiating objectives of a trade agreement were expected on 26 November 2018 and detailed negotiating targets were published on 21 December 2018. Negotiations began in April 2019.
As we all celebrated the new year, January 1, 2020, implicitly launched a new trade agreement for the United States. The U.S.-Japan trade agreement is the latest free trade agreement that benefits U.S. importers and exporters.1 Signed on October 7, 20192, along with the U.S.-Japan Digital Trade Agreement, which only came into force on New Year`s Day, after the implementation of existing legal procedures. It is important that it does not concern auto parts and auto parts, but the two countries have agreed to continue negotiations on the abolition of tariffs on these types of products.39 www.whitehouse.gov/briefings-statements/president-donald-j-trump-secured-tremendous-victory-american-farmers-businesses-new-japan-trade-agreements/. From a U.S. perspective, the trade agreement focuses on improving market access for U.S. agricultural products. Prior to the trade agreement, $5.2 billion of Japan`s $14.1 billion in U.S. food and agricultural products was duty-free8.