US-Japan Trade Agreement Makes Progress, Expected to be Implemented in January 2020

US Trade Representative Robert Lighthizer confirmed on Wednesday that President Trump would be signing an implementing proclamation regarding the limited trade deal between the US and Japan. Lighthizer also lauded Japan for getting this trade agreement passed through its legislation.

The limited trade deal will ensure increased imports of US farm products by Japan and in return, US is expected to cut tariffs on imports of industrial products from Japan. The limited US-Japan Trade Agreement as well as a US-Japan Digital Trade Agreement are expected to be implemented by January 1, 2020.

Once the limited trade deal comes into effect, the focus of trade negotiations is likely to shift towards the issue of tariffs on cars and auto parts imported from Japan. Auto imports are one of the biggest contributor to the wide trade deficit in the relationship between the two nations.

Lighthizer also commented that the US and Japan are expected to start discussing this issue in early 2020, as they progress towards a trade agreement with a wider scope.

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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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