Safeguard measures: This agreement provides for Japan`s limited application of safeguards for increased imports of beef, pork, whey, oranges and racehorses, which will expire over time. 2. ustr.gov/about-us/policy-offices/press-office/press-releases/2019/december/ambassador-lighthizer-lauds-japan#. 5. ustr.gov/countries-regions/japan-korea-apec/japan. 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 trade in goods 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 the U.S.-Japan trade agreement, Japan has committed to providing substantial access to the U.S.
food and agricultural market by removing tariffs, imposing significant tariff reductions, or allowing a certain amount of imports to a low (usually zero) level. It is important that the customs treatment of the products covered by this agreement is in line with the preferential tariffs that Japan grants to the countries of the CP-TPP agreement. The United States and Japan have concluded a trade agreement on market access for certain agricultural and industrial products, with plans to continue negotiations for an expanded free trade agreement. On October 17, 2019, the United States and Japan agreed on market access for certain agricultural and industrial products. Japan`s legislature approved the agreement on December 5, 2019. President 9974`s proclamation was issued on December 26, 2019, with the effective date of January 1, 2020. On 30 December 2019, the Communication of the Federal Register (84 FR 72187) on the implementation of the agreement was published. USDA Japan has developed a series of product descriptions that provide a brief overview of the impact of USJTA on certain product categories.
Please note that the information provided is not complete and additional details are included in the text of the contract itself. 10. U.S.-Japan Trade Agreement, Appendix I: Japan`s Tariffs and Customs Provisions, I-B-5-1; ustr.gov/sites/default/files/files/agreements/japan/Annex_I_Tariffs_and_Tariff-Related_Provisions_of_Japan.pdf. President Trump and Prime Minister Abe agreed that these initial results will be followed by further negotiations to address the remaining areas of interest to any government. The United States and Japan will continue to work on a comprehensive trade agreement that will lead to a more equitable and reciprocal trade and economic relationship. The Digital Trade Agreement is a separate agreement that sets rules in the digital space.15 The content of the Digital Trade Agreement is virtually the same as the provisions of the U.S.-Mexico-Canada agreement (USMCA). Notable provisions include a ban on tariffs on electronically transmitted content (e.g. B software and music) and the recognition of an electronic signature as a legally appropriate authentication tool.