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Japan's Prime Minister Shinzo Abe's Limited trade agreement with the United States was approved by the Japanese House of Representatives on Tuesday, paving the way for cuts in tariffs on American agricultural products and Japanese machinery and tools next year.
Shinzo Abe claims that the agreement he signed with President trump of the United States is a "win-win", but there is still uncertainty about how much progress Japan can make in negotiations to eliminate the tariff imposed by the United States on Japanese cars and parts, which makes it questionable.
Japan and the United States recently officially signed the limited trade agreement, which not only cut tariffs on American agricultural products and Japanese machinery and tools, but also further avoided the threat of the United States to raise automobile tariffs.
The agreement will then be put to the Japanese Senate for approval, but because it has been approved by the house of Representatives, it will increase the chances of the agreement coming into force in January.
After the agreement is approved, Japan and the United States will have four months to consult on further negotiations. Trump has said he wants more trade talks after a preliminary agreement is reached.
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sales@tanchin.hk for any inquiry
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