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Us Free Trade Agreement With Japan

On October 7, 2019, USTR Robert Lighthizer and Japan`s Ambassador to the United States Shinsuke J. Sugiyama signed the U.S.-Japan trade agreement and the U.S.-Japan Digital Trade Agreement. Following national procedures, both agreements came into force on 1 January 2020. As announced in the joint statement of the United States and Japan of September 25, 2019, the United States and Japan intend to conclude consultations within four months of the U.S.-Japan trade agreement coming into force and then to open negotiations on tariffs and other trade restrictions, trade barriers and investment, and other issues, to promote mutually beneficial, fair and reciprocal trade for both parties. 9. www.whitehouse.gov/briefings-statements/president-donald-j-trump-secured-tremendous-victory-american-farmers-businesses-new-japan-trade-agreements/. President Trump, as part of the government`s broader trade agenda, has long criticized the trade imbalance between the United States and Japan, the world`s largest and third-largest economies, respectively. To reduce the U.S. trade deficit by $56.7 billion, President Trump and Japanese Prime Minister Shinzo Abe have jointly announced their intention to open negotiations for a U.S.-Japan trade deal in 2018.

The United States and Japan agree on merchandise trade and digital trade, President Trump and Prime Minister Abe announced the trade agreement on September 25, 2019 at the United Nations General Assembly in New York.6 In accordance with other bilateral free trade agreements (FTAs), Schedule II of the trade agreement contains rules of origin and origin to determine whether a product is eligible for preferential treatment. For the purposes of the trade agreement, a commodity originated in Japan when it meets one of the following criteria: under the leadership of President Trump, the United States and Japan have agreed on early outcomes of market access negotiations for certain agricultural and industrial products, as well as on 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. 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 on September 27, 2019. 15. U.S. Customs and Border Services, CSMS #41149692, Japan-Japan Trade Agreement: information on the request for preferential treatment.

www.cbp.gov/trade/free-trade-agreements/japan. Japan has requested ratification by submitting the agreements to its bicameral legislation, the National Parliament. On November 19, 2019, the lower house of Parliament, the House of Representatives, voted on both agreements. On 4 December 2019, the Landtag approved the agreements after adoption by the Council, the House of Lords of the Landtag.

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