US and Japan will negotiate a free trade agreement.

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During the UN meeting this week, the US and Japan agreed on Wednesday to negotiate a separate bilateral trade agreement between the two countries. While Japan is part of the Trans Pacific Partnership, the agreement by Japan to negotiate may be an effort to avoid the risk of tariffs on Japanese goods to the US – especially automobiles. This agreement to negotiate is a shift from Japanese economic policy as in the past Japan has not expressed interest in talking to the US.

 

Japan and Peru seek early implementation of TPP.

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According to Retuers, Japan and Peru’s foreign ministers are working on an early implementation of the Trans-Pacific Partnership to promote free trade between the two countries. Currently there are 11 members to the TPP. While an agreement has been reached between the parties, the implementation is not yet effective until enough countries ratify the agreement.

Japan has already ratified the pact, but 5 more countries need to ratify before the TPP will take effect.

One main reason for the Japan, Peru efforts may be due the year 2019 marking the 120th anniversary of Japanese immigration to Peru.

If you have any TPP questions or other trade, import, or customs questions, contact David Hsu at 832-896-6288 or by email at dhsu@givensjohnston.com.

Japan passes law to ratify Trans-Pacific Partnership trade deal.

As reported by the Kyodo News Рthe Japanese government enacted a law to ratify the TPP free trade deal. As you are aware, Japan and 10 other nations (Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam) continued negotiations with the free trade deal after the United States withdrew. The TPP deal requires at least 6 member countries to ratify the pact before it takes effect.

More TPP updates as they become available. If you have any trade or customs questions, please feel free to contact David Hsu at 832-896-6288 or by email at dhsu@givensjohnston.com.