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Japan has agreed to phase out U.S. wine import tariffs in a bilateral trade agreement with the United States, which is expected to be signed by the end of this month, Nikkei News reported Sunday.
Nikkei reported that after the trade agreement came into force, Japan would gradually abolish American wine tariffs within five to seven years. The report did not indicate the source of the information.
According to Nikkei, Japan imposes import tariffs of 15% or 125 yen ($1.16) per litre on imported wines, with the lowest tariffs. For wine dealers, the abolition of tariffs is expected to reduce the cost of imported wine in the United States by about 13%, according to the report.
Nikkei reports that the trade agreement between the United States and Japan is also expected to gradually reduce U.S. beef import tariffs from 38.5% to 9% in 2033; the agreement is expected to be signed between the United Nations General Assembly.
Officials from Japan's Ministry of Economy, Industry and Industry were not immediately available for comment.


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