US AND JAPAN INKED A TRADE AGREEMENT




Selin ATAY-TDO-USA and Japan inked a trade agreement that foresees the reduce of custom tariff in some agricultural and industrial products.

According to news in japan press, US President Donald trump and Japan prime minister Abe Şinzo, reached a trade agreement in New York. With such agreement, these two country agreed that the taxes imposed on some agricultural and food products that USA exports and some industrial products that Japan exports.

In the context of agreement, it is determined that the custom tax imposed for the food product that US exports will be reduced to minimum. The government of Tokyo, stated that it will degrade the custom tax that it applies to food product imported from USA incrementally.

The trade agreement will entry into force after the parliamentary vote of two countries in the first January 2020.

With the withdraw of USA from The Trans-Pacific Partnership, tariff uncertainty was dissolved with this new trade agreement to some extent.