The United States and Japan have reached a trade agreement on market access for certain agricultural and industrial products, with plans to continue further negotiations for an expanded free trade agreement. On October 17, 2019, the United States and Japan concluded an agreement on market access for certain agricultural and industrial products. Japanese lawmaker approved the agreement on December 5, 2019. Presidential Proclamation 9974 was issued on December 26, 2019 and set an effective date of January 1, 2020. On 30 December 2019, the communication from the Federal Register (84 FR 72187) on the implementation of the agreement was adopted. 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). Within four months of implementation, President Trump and Prime Minister Abe will shift their efforts to a broader trade deal. This broader agreement should cover both tariff and non-tariff barriers, including tariffs and restrictions on trade in services and investment. The President of the United States (United States), Donald Trump, signed on the 26th The proclamation took place about three weeks after Japan`s bicameral Parliament, the National Parliament, approved 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.. . .