«

»

Dub
09

The TPP-11 will reduce tariffs in countries that together account for more than 13% of the world economy and $10 trillion for gross domestic product (GDP). With the United States, the pact could have accounted for 40% of the world economy. Even without the United States, the agreement will include a market of nearly 500 million people and make it one of the largest trade agreements in the world. In October 2018, the United States announced its intention to begin negotiations for a free trade agreement with Japan. The first round of trade negotiations between the United States and Japan began in April 2019 and a limited free trade agreement was concluded until September 2019. In early December 2019, Japan`s House of Lords approved the limited trade agreement. In the absence of approval from the U.S. Congress, the agreement came into force on January 1, 2020. 2. ustr.gov/about-us/policy-offices/press-office/press-releases/2019/december/ambassador-lighthizer-lauds-japan. 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, 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 merchandise trade 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. www.whitehouse.gov/briefings-statements/joint-statement-united-states-japan/. A new high-quality digital trade agreement is in line with the gold standard for digital commerce rules. On September 26, 2018, President Trump and Prime Minister Abe announced that the United States and Japan would begin negotiations for a trade agreement between the United States and Japan. On October 16, 2018, the USTR formally informed Congress that the Trump administration intends to begin negotiations after the necessary internal procedures.

Thus began a 90-day consultation period under the Trade Promotion Authority, mandated by Congress, before negotiations began. Public notices on the negotiating objectives of a trade agreement were expected on 26 November 2018 and detailed negotiating targets were published on 21 December 2018. Negotiations began in April 2019. The U.S.-Japan Trade Agreement (USJTA) came into force on January 1, 2020. In that agreement, Japan committed to grant the United States significant market access by phasing in most tariffs, implementing significant tariff reductions or allowing a certain volume of imports at a lower price. Once the USJTA is fully implemented, nearly 90% of U.S. food and agricultural products imported into Japan will be duty-free or preferential tariff access.