Tokyo also intends to conclude a free trade agreement with London immediately after the UK withdraws from the European Union at the end of January. 6. EY Global Tax Alert, USTR grants new exclusions for lists 1, 2 and 3 for products originating in China; The United States and Japan agree on merchandise trade and digital trade from September 27, 2019. The two agreements signed on Monday formalized previous agreements between President Trump and Japanese Prime Minister Abe, reached a few weeks ago. The first details of the agreements were discussed in a previous article on this blog at the end of September. The text of the agreements, as well as letters on interactive computer services, alcoholic beverages, beef, rice, security measures, skimmed milk powder and whey, were also published on Monday. Together, these rules will put in place predictable rules and foster a strong digital trade market between the two countries – developments that should support more prosperity and well-paying jobs in the United States and Japan. President Trump, as part of the government`s broader trade agenda, has long criticized the trade imbalance between the United States and Japan, the world`s largest and third-largest economies, respectively. To reduce the U.S. trade deficit by $56.7 billion, President Trump and Japanese Prime Minister Shinzo Abe have jointly announced their intention to open negotiations for a U.S.-Japan trade deal in 2018.
The United States and Japan agree on merchandise trade and digital trade, president Trump and Prime Minister Abe announced the trade agreement on September 25, 2019 at the United Nations General Assembly in New York.6 The Digital Trade Agreement contains many provisions similar to those of the USMCA Digital Trade Chapter. Provisions to eliminate discriminatory treatment of digital products, prevent future tariffs on electronic transmissions, validate the use of electronic signatures, and ensure online consumer protection and personal data are included in both the Digital Trade Agreement and the USMCA.