The Japanese Senate Formally Adopted The "Japan US Trade Agreement".

According to the late December 4th issue of the Japan economic news (2019), the "Japan US trade agreement" and "Japan US trade agreement" were voted by the Japanese Senate Committee on the morning (4) morning under the strength of the ruling party of Japan's Liberal Democratic Party and Komeito party. The above two agreements are expected to enter into force in January 1st (2020) in accordance with the high-level political plan of Japan and the United States. According to the aforementioned agreement, the import of beef duty from the United States will be lowered from the current 38.5% stage to 9% in 2033.

To (2018) September, the leaders of Japan and the United States held a summit meeting to reach agreement on trade negotiations between the two sides. In October 7th of this year (2019), the two countries formally signed the "trade agreement" and "Digital Trade Agreement". Because of the agreement signed by the US side and the process of ratification without the approval of the Congress, the approval process of the Japanese parliament can become the focus of the future agreement.

The Japanese government said that the tariff cancellation rate of the trade agreement was about 92% in the United States and about 84% in Japan. Since the United States imported pork cheap parts from the class tax rate, from the current 1 kg 482 yen, 2027 down to 50 yen. The import duty of alcoholic drinks in the United States (currently 15% or 125 yen per litre) will also be phased down and tariff will be completely removed in seventh.

In fact, Japan and the United States will continue to consult on the issue of tariff reductions and revocation of components of automobiles and automobiles. In this Congress, the Japanese government advocated "further negotiation of tariff cancellation, which is the premise for Japan to accept the agreement". On the other hand, the opposition party in Japan claimed that it had not received the US commitment to cancel the tariff. Regarding the second round of trade consultation negotiations between Japan and the United States, the government of Japan and the United States is scheduled to set up negotiations in early spring (2020). Before the November 2020 presidential election in the United States, President trump agreed to carry out consultations on tariff reduction for Japanese vehicles.

On the other hand, according to the statistics of the Ministry of economy and industry of Japan, the Japanese economic partnership agreement (EPA) coverage rate is expected to increase from 37% to 52% after the "Japan US trade agreement" came into effect in January 1st next year. Since the Japanese government began to actively promote the strategy of economic and trade liberalization since 2002 (in accordance with the February 2002 Sunstar EPA entry into force), the EPA coverage has exceeded 50% mark for the first time. In the future, if China and South Korea complete the EPA negotiations, the coverage rate is expected to exceed 7.