Tuesday, 8 October 2013

Japan may opt to give up tariffs on the five key product categories.

The government and ruling parties will begin considering whether tariffs on five categories of agricultural products that have been regarded as a "sanctuary" can be removed in tariff negotiations of the Trans-Pacific Partnership (TPP) multilateral trade initiative, in which 12 countries, including Japan and the United States, are participants, according to sources.

The government and the ruling parties have treated five categories of products-rice; wheat; beef and pork; dairy products; and farm products that are used as sweeteners, such as sugar cane-as key product categories for which tariffs should be maintained.
But now that the talks are facing difficulties, the government and ruling parties have to consider whether tariffs on some products in the categories can be removed.
There are 586 product items in the five key categories. Of them, 58 are of rice and 51 are of beef.
In economic partnership agreements which Japan has signed with 13 countries and one region, Japan has never abolished tariffs on the five key product categories.

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