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Us Japan Trade Agreement Joint Statement

On October 7, 2019, USTR Robert Lighthizer and Japan`s Ambassador to the United States Shinsuke J. Sugiyama signed the U.S.-Japan trade agreement and the U.S.-Japan Digital Trade Agreement. Following national procedures, both agreements came into force on 1 January 2020. As announced in the joint statement of the United States and Japan of September 25, 2019, the United States and Japan intend to conclude consultations within four months of the entry into force of the U.S.-Japan trade agreement and then begin negotiations on tariffs and other trade restrictions. , trade barriers and barriers to investment. and other issues aimed at promoting mutually beneficial, equitable and reciprocal trade. In a joint statement released today, representatives of the European Union, the United States and Japan announced their agreement on strengthening existing industrial subsidy rules and condemned the practices of forced transfer of technology. Trump said the deal would help reduce what he called “our chronic trade deficit” and open up new markets in Japan to “about $7 billion” in U.S. products. A4: The final details of the agreement and the standard abeling will be concluded in the coming weeks. U.S.

officials said the original agreement could enter into force as early as January 1. Because U.S. tariff cuts are limited and no further legislative changes are needed, Trump does not need congressional approval before the agreement is implemented, although Congress may challenge the proposal. In Japan, Abe may have enough political strength to get the deal through parliament in the special session that begins on October 4, although the opposition is grilling him if he doesn`t close the door on possible U.S. tariffs on cars. The two countries also signed an “executive agreement” on e-commerce and other digital commerce sectors, covering $40 billion in digital commerce. According to the U.S. fact sheet, this ancillary agreement “guarantees the accessibility of cross-border data transfers in all sectors” and prohibits data geolocation requirements as well as “arbitrary access to source code and algorithms.” These measures are based on the Osaka Declaration on the Digital Economy, presented by Japan and published at the G20 summit earlier this year. Finally, Trump said negotiators would continue discussions on a broader trade deal, which would likely focus on other areas included in the TPP, but which would be omitted from the agreement announced today. 7. The United States and Japan will conduct these discussions on the basis of mutual trust and will not take any action against the spirit of this joint declaration during the process of these consultations.