News
Newsfeed
News
Thursday
April 25
Show news feed

The Japanese parliament ratified a trade deal with the US on Wednesday, RIA Novosti reported.

The agreement governs customs regulations for trade in agricultural products and manufactured goods. In response to the US demand to open a market for its agricultural products, Japan agreed to reduce duties on pork and beef, but to the extent not exceeding those for the countries of the Trans-Pacific Partnership.

The agreement is criticized in Japan by the opposition because of the lack of written US obligations not to increase tariffs on the products of the Japanese automobile industry. The document says only that the parties will not take actions contrary to the spirit of the agreement, which is based on a relationship of trust.

The question of the need for a bilateral trade agreement arose after US President Trump refused to enter into the Trans-Pacific Partnership. Talks began in April this year, the final result was announced at a meeting of the leaders of the two countries in September. The deal will enter into force on January 1.

!
This text available in   Հայերեն and Русский
Print