Trade agreement with US approved by Japanese parliament

December 4, 2019 | Investopaper

The Japanese parliament has approved a trade deal with the US that was made earlier in 2019. The trade deal was agreed by President Donald Trump and Japanese Prime Minister Shinzo Abe.

Both the upper house and lower house cleared the trade deal. The former cleared the deal on Wednesday.

The deal that has been made on cutting tariffs will come into effect at the beginning of 2020. Analysts have said that the deal is more favorable to the US than Japan. This is because a 2.5 percent tariff on Japanese automobiles has not changed and remains as it is.

American beef and other agricultural products will be cheaper in Japan after the deal comes into effect. US and Japan will continue the trade talks in the coming days too.


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