U.S. and Japan Announce Trade Agreement
According to the Office of the United States Trade Representative (USTR), the United States and Japan have reached an agreement that will reduce tariffs on agricultural and industrial products. The agreement also includes a set of provisions addressing digital trade between the two nations.
The U.S. will remove tariffs on 42 HTS subheadings covering $40 million worth of Japanese agricultural products, including soy sauce, green tea, and chewing gum. Additionally, the U.S. has agreed to reduce or eliminate tariffs on certain Japanese industrial products, including machine tools, bicycles, and musical instruments. In return, Japan agreed to remove or lower tariffs on U.S. agricultural products, such as wheat, almonds, and sweet corn.
As of September 27, 2019, an official effective date has not yet been released.
To view the official announcement from USTR, click here.
Trans-Border will continue to monitor the situation. If you have any questions, please reach out to Bill Carey, Import Compliance Manager, at bcarey@tbgfs.com or (800) 493-9444.
