Japan, U.S. Confirm Farm Tariffs at TPP Levels

Economy Politics

Washington, April 25 (Jiji Press)--Japan and the United States confirmed on Thursday that tariffs on agricultural products will not be lowered below the levels agreed by the 11-nation Trans-Pacific Partnership free trade pact.

The agreement came during minister-level consultations in Washington aimed at concluding a new bilateral trade agreement, following a first round of talks last week.

The United States withdrew from the TPP's earlier version soon after the inauguration in January 2017 of President Donald Trump.

Japanese Economic Revitalization Minister Toshimitsu Motegi and U.S. Trade Representative Robert Lighthizer took part in the latest talks, exchanging opinions on how to proceed with negotiations on trade in goods, mainly agricultural products and automobiles.

Based on the first round of talks, the two sides agreed to produce results early in negotiations to eliminate or reduce tariffs on farm products and automobiles.

[Copyright The Jiji Press, Ltd.]

Jiji Press