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Report: Japan Rejects U.S. Plan to Phase Out Auto Tariffs
Japanese trade negotiators have rejected as too slow a U.S. proposal to eliminate American tariffs on imported Japanese cars and trucks over 30 years, according to Kyodo News, which cites unnamed sources.
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Japanese trade negotiators have rejected as too slow a U.S. proposal to eliminate American tariffs on imported Japanese cars and trucks over 30 years, according to Kyodo News, which cites unnamed sources.
The U.S. proposal came at the conclusion of Trans-Pacific Partnership talks in Japan last week, the news service reports.
The U.S. currently levies a tariff of 2.5% on cars and 25% on trucks imported from Japan. Kyodo News says American negotiators offered to drop the taxes in exchange for access to Japan's beef, dairy, pork, rice and sugar markets. But it reports Japan Economics Minister Akira Amari dismissed the offer because of its unusually long timetable.
Japan says Amari plans to visit the U.S. this week to continue discussions.
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