95 percent of goods imported by Japan to become tariff-free under TPP

posted on October 21, 2015

Under the planned Trans-Pacific Partnership free trade pact, 95.1 pct of all import items of Japan will eventually become tariff-free, marking the highest tariff removal rate for any trade deal concluded by the country, according to details the Japanese government announced Tuesday of a recent broad TPP accord.

Based on the broad agreement reached at a ministerial meeting among Japan, the United States and 10 other countries in Atlanta earlier this month, Japan will remove the existing tariffs on 395 agricultural, forestry and fisheries products, which account for nearly half of all such products, totaling 834.

Even in the five key farm categories of rice, beef and pork, wheat and barley, sugar and starch, and dairy goods, which have been regarded as "sanctuary" areas by Japan, tariffs will be removed for 174 items, such as cow tongues and sausages, or about 30 pct of 586 items under the categories.

The government may thus face accusations that it will be violating parliamentary resolutions seeking to exempt key agricultural items from tariff removal.


source by newsonjapan
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