Japan
The fact that China, Japan and South Korea (CJK) engaged in an agreed-upon trilateral summit framework, and bilateral dialogues on the sidelines, was no small achievement given heightened tensions between the three countries.
Countries such as Australia, New Zealand, South Korea and Japan are among the first ones with which India is ready to consider individual agreements to begin with.
Food exports from the European Union to Japan increased sharply in the period immediately following the entry into force of their free trade agreement.
Automobile and wagyu beef exports to the European Union are increasing thanks to tariff cuts under an economic partnership agreement between Japan and the EU.
Auto tariffs are expected to come up as a top agenda item in Japan-UK trade talks that are expected to start as early as this spring after the latter’s exit from the European Union.
Boris Johnson wants to strike Britain’s first post-Brexit trade deal with Japan, and before the end of the year, in a bid to whip up a bandwagon.
US President Donald Trump vowed to rip up international trade deals and rebalance America’s global trade relationships.
The Japan-U.S. Trade Agreement (JUSTA), the pinnacle for modern trade policy between the two allies, is now in force.
South Korea, China and Japan have made some progress in negotiations on a free trade agreement (FTA) following the trilateral summit held late last year.
Japan and Australia reaffirmed their goal of concluding the envisioned RCEP free trade deal among 16 nations including India by the end of the year.
This agreement aims at further protection and promotion of investment between the contracting parties.
Japan expressed its support for Pakistan’s efforts to stabilse the country’s fragile economy and also agreed to work together to further promote bilateral trade relations.
Japanese Foreign Minister Toshimitsu Motegi promised on Tuesday to help Thailand join a trans-Pacific free trade agreement at an early date.
The Japan Philippines Economic Partnership Agreement (JPEPA) negatively impacted machinery and mechanical exports even as it benefited Philippine exports overall, according to a study from the Philippine Institute of Development Studies.
Countries like China, South Korea and Japan may boast of low tariffs but they have erected huge non-tariff barriers (NTBs), most of which are tailored to mask the ferocity of trade protectionism, in a bid to control the imports they deem undesirable.
Tokyo wants to abolish tariffs on cars, which account for the largest amount of its exports to the UK.
Under the deal, Japan reduced tariffs on US agricultural products. Japan has much to fear if Trump seeks broader trade pact.
For New Delhi, though, RCEP is first and foremost an economic deal that could hurt its more vulnerable industries and lead to near-term pain.
Top trade officials from South Korea, China and Japan agreed to accelerate their trilateral free trade talks and ramp up efforts to conclude a mega Asia-Pacific trade deal.
Whereas Japan took the lead to establish the TPP without the United States, Tokyo does not desire a RCEP without India because it would create a China-led trading bloc.
