Details of Japan Mini-Deal Announced
The U.S. Trade Representative announced that the U.S. will reduce or eliminate tariffs on certain Japanese machine tools, bicycles, bicycle parts, fasteners, steam turbines and musical instruments, as well as eliminating or reducing tariffs on 42 tariff lines that cover $40 million in food and agricultural imports from Japan, as part of a "mini-deal" recently agreed to by the two countries. Those food and agricultural imports include plants, flowers, persimmons, green tea, chewing gum and soy sauce.
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The announcement, which did not mention a date the agreement will go into effect, also said that the two countries agreed to digital trade disciplines that prohibit data localization requirements, ensure cross-border data transfers in all sectors and prohibit discriminatory taxes on digital services or customs duties on electronic products.