Us Trade Agreement With Japan



Us Trade Agreement With Japan

As we all celebrated the New Year, January 1, 2020 silently launched a new trade deal for the United States. The Trade Agreement between the United States of America and Japan is the latest free trade agreement that benefits U.S. importers and exporters.1 The U.S.-Japan Trade Agreement, signed on October 7, 20192 with the U.S.-Japan Digital Agreement, only entered into force on New Year`s Day, after the evolution of the legal procedures in force. It is important that these are not automobiles and auto parts, but the two countries have agreed to continue negotiations for the abolition of tariffs on these types of goods.3 3 The Digital Agreement is a separate agreement which establishes rules in the digital space15 The content of the Digital Agreement is practically the same as that of the Agreement between the United States. Mexico and Canada (USMCA). Notable provisions include the prohibition of customs duties on electronically transmitted content (e.g. software and music.B) and the recognition of an electronic signature as a legally appropriate means of authentication. This is important as the World Trade Organization (WTO) moratorium on wire transfers will be renewed at the 12th Ministerial Conference in June 2020 (see the next issue of EY Tradewatch for a related article). DLA Piper is experienced in customs legislation and trade agreements. If you have any questions or are looking for further advice, please do not hesitate to contact us. Under President Trump`s leadership, the United States and Japan agreed on the early outcomes of negotiations on market access for selected agricultural and industrial products as well as digital trade.

The United States looks forward to continuing negotiations with Japan for a comprehensive agreement on the remaining tariff and non-tariff barriers and to achieving fairer and more balanced trade. 9. www.whitehouse.gov/briefings-statements/president-donald-j-trump-secured-tremendous-victory-american-farmers-businesses-new-japan-trade-agreements/. 4. www.whitehouse.gov/briefings-statements/joint-statement-united-states-japan/. 5. ustr.gov/countries-regions/japan-korea-apec/japan. The United States and Japan have reached a trade agreement on market access for certain agricultural and industrial products, with plans to continue further negotiations for an expanded free trade agreement. On October 17, 2019, the United States and Japan concluded an agreement on market access for certain agricultural and industrial products. Japanese lawmaker approved the agreement on December 5, 2019. Presidential Proclamation 9974 was issued on December 26, 2019 and set an effective date of January 1, 2020. On 30 December 2019, the communication from the Federal Register (84 FR 72187) on the implementation of the agreement was adopted.

10. U.S.-Japan Trade Agreement, Annex 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. . . .