Wto Japan Trade Agreement

Since the inception of the WTO, Japan has formally addressed the following four issues in WTO dispute settlement procedures in order to reach agreements that are satisfactory to both parties; unilateral measures taken by the United States under Sections 301 and 304 of the Trade Act of 1974 (regarding the issuance of auto parts and auto parts between Japan and the United States), Brazil`s investment measures in the automotive sector, measures relating to the automotive industry, and measures relating to purchases made by the U.S. regional government. Japan has also participated, as a third party, in disputes among other members over the EC`s trade description of scallops, the EU banana regime, Hungary`s export subsidies for agricultural products, the US ban on shrimp imports, the Community classification of certain computer equipment, US measures on textiles and clothing products. , the introduction by the United States of AD duties on imports from Korea. and quantitative restrictions on products imported from India. EU and Japanese representatives told the CRTA that the EPA was important not only for itself, but also for the multilateral trading system as a whole. Japan, in particular, said the agreement showed “our strong political will to keep the flag of trade free and fair.” Market access commitments made during the Uruguay Round call on Japan to strengthen its scope of its industry tariff commitments, reduce industrial tariffs by about 56% and agree, under the agriculture agreement, to convert all non-tariff agricultural measures, with the exception of rice , in tariff quotas. The report indicates that a-quota tariffs will exceed 600%. The WTO secretariat report and a statement of principles developed by the Japanese government will form the basis for the review of Japan`s trade policy and practice on 27 and 28 January 1998.

The report notes that japan`s economy has not improved since the last revision of WTO trade policy in April 1995. Various sets of fiscal and monetary stimulus measures in 1995 recorded moderate growth, but led to a deterioration in public finances. Since the second quarter of 1997, the domestic economy has slowed, with export demand being the only major source of growth.