15. US Customs and Border Protection, CSMS #41149692, US-Japan Trade Agreement: information on the use of preferential treatment. www.cbp.gov/trade/free-trade-agreements/japan. Companies dealing with Japan and U.S. trade are encouraged to review the text of the agreements and understand the potential benefits. To this end, companies may consider emergency measures: 10th U.S.-Japan Trade Agreement, Annex I: Japan`s Tariffs and Customs Provisions, I-B-5-1; ustr.gov/sites/default/files/files/agreements/japan/Annex_I_Tariffs_and_Tariff-Related_Provisions_of_Japan.pdf. On October 7, 2019, USTR Robert Lighthizer and Japanese Ambassador to the United States Shinsuke J. Sugiyama signed the U.S.-Japan Trade Agreement and the U.S.-Japan Digital Trade Agreement. Following the national procedures, these two agreements entered into force on 1 January 2020. As announced in the joint statement of the United States and Japan of 25 September 2019, the United States and Japan intend to conclude the consultations within four months of the entry into force of the Us-Japan trade agreement, and then begin negotiations on tariffs and other trade restrictions – barriers to services and investment, as well as other issues aimed at ensuring that both sides promote fair and reciprocal trade.
(12) General Note 4(a)(k) to Annex II to the Trade Agreement. ustr.gov/sites/default/files/files/agreements/japan/Annex_II_Tariffs_and_Tariff-Related_Provisions_of_the_United_States.pdf. On the same day, a separate bilateral pact entered into force, establishing rules for digital trade. A Japan-U.S. The trade deal went into effect Wednesday, immediately lowering tariffs on U.S. agricultural products and a host of Japanese industrial products, with the exception of passenger cars and auto parts. The Digital Agreement is a separate agreement that establishes rules in the digital space15 The content of the Digital Agreement is practically in line with the provisions of the Agreement between the United States, Mexico and Canada (USMCA). Notable provisions include the prohibition of customs duties on electronically transmitted content (e.g. software and music.B) and the recognition of an electronic signature as a legally appropriate means of authentication. This is important as the World Trade Organization (WTO) moratorium on wire transfers will be renewed at the 12th Ministerial Conference in June 2020 (see the next issue of EY Tradewatch for a related article).
The U.S.-Japan Digital Trade Agreement is in line with the U.S.-Mexico-Canada Agreement (USMCA), which is the most comprehensive and high-end trade agreement that addresses digital barriers ever negotiated. This agreement will help promote economic prosperity, promote fairer and more balanced trade, and ensure that common rules support businesses in key sectors where both countries are world leaders in innovation. On December 26, 2019, the President of the United States (United States), Donald Trump, signed a proclamation that implemented two separate trade agreements with Japan (together the agreements).1 The proclamation took place about three weeks after the approval by Japan`s bicameral parliament, the national parliament, of the two agreements in early December. The U.S.-Japan Trade Agreement (Trade Agreement) will eliminate or reduce tariffs on agricultural and industrial goods and set preferential quotas for U.S.-specific products. The U.S.-Japan Digital Trade Agreement is a separate agreement between the two countries that sets out guidelines for priority areas of digital trade. These agreements entered into force on 1 January 2020 and will serve as the basis for further negotiations for a broader free trade agreement between the United States and Japan2. .