The European Union consultation cancel tariffs on most of the Japanese auto parts


Date:2017-06-22
According to Reuters, the Janpan business daily said on Friday,  In the ongoing trade negotiations, the EU is prepared to immediately cancel for most Japanese auto parts to impose import duties.
The paper said, at the same time, the EU urged Japan to cut or cancel for pork, cheese, wine and other agricultural products (000061) of import tariffs. Because Japan has open to foreign competitors these areas there is a powerful political resistance, so these requirements to the Japanese government in a tough position.
The newspaper quoted sources said that people continue the discussion in Tokyo, Japan and the European Union consultation in early July signed economic partnership agreement (EPA) reached broad agreement
With the European Union signed the EPA, Abe economic stimulus plan and one of the main goals of economic growth strategy. With the scale of the trade between the EU accounted for about 10% of Japan's overall foreign trade.
The EU is for auto parts and cars imported from Japan to impose tariffs of 3-4% and 4% respectively
Japanese economic news, said the EPA took effect, the EU will be immediately cancelled by more than ninety percent of tariffs on auto parts imported from Japan.
About how long does it take for the EU to cancel import tariffs on Japanese cars, the two sides are still at loggerheads. Paper said that Japan wants to car tariffs can be abolished in seven years, the EU is planning to phase out in more than 10 years time.
Since 2013,  Japan and the European were negotiate for the EPA , it was by removing tariffs and improve the investment regulation, promote bilateral trade and investment.