Japan Trade Negotiator Trip's Canceled
The top trade negotiator from Japan canceled his trip to the U.S. this week, which was meant to nail down a reduction in auto tariff rates for Japan, Bloomberg reported. While the overall reciprocal tariff rate is 15% for Japan, the country has not received the 15% rate on autos and auto parts, as agreed to in July, it said.
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Japan's government said Japan still needs to debate some issues before finalizing the agreement. Japan also is seeking to get an all-inclusive rate, as the EU did, rather than 15% plus the most favored nation rate.