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Motorcycles U.K. Set to Remove Tariffs on Japanese Cars in 2026, Nikkei Says

04:05  09 august  2020
04:05  09 august  2020 Source:   msn.com

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The two nations aim to reach a broad agreement for a trade deal within weeks and Japan 's foreign minister, Toshimitsu Motegi, is expected to visit Britain early August to negotiate with his UK counterpart, Trade Minister Liz Truss, Jiji said .

The United States is not expected to remove tariffs on imports of Japanese automobile parts in a trade agreement that the two governments plan to sign next week, sources In addition to auto parts, Japan has failed to persuade the United States to eliminate tariffs on Japanese cars , and the Trump

(Bloomberg) -- The U.K. is set to abolish tariffs on Japanese cars by 2026 under a trade deal the two countries are seeking to complete by the end of the month, the Nikkei newspaper reported Sunday, without saying where it got the information.

a row of parked cars: Honda Motor Co. vehicles bound for shipment sit at a yard in front of the Nippon Yusen K.K.'s Oceanus Leader vehicle carrier ship at a port in Yokohama, Japan, on Sunday, July 19, 2020. Japanese exports fell by more than 20% for a third straight month even as key markets started to reopen from virus shutdowns. © Bloomberg Honda Motor Co. vehicles bound for shipment sit at a yard in front of the Nippon Yusen K.K.'s Oceanus Leader vehicle carrier ship at a port in Yokohama, Japan, on Sunday, July 19, 2020. Japanese exports fell by more than 20% for a third straight month even as key markets started to reopen from virus shutdowns.

The tariff agreement is in line with Japan’s existing deal with the EU on auto tariffs.

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The United States and Japan have reached the broad framework of a trade agreement, with Washington maintaining tariffs on Japanese autos but Tokyo cutting tariffs on U .S. beef and pork, Japan 's Nikkei business daily said on The Nikkei did not cite any sources for its information.

Japan is seeking a firm commitment from the administration not to tax Japanese cars and is Mr. Trump said he could secure better trade terms for American farmers through bilateral talks. The decision cleared the way for the president to impose tariffs on foreign cars and car parts, as he has

The Nikkei report came after Foreign Minister Toshimitsu Motegi and British Trade Secretary Liz Truss met in London last week to push the negotiations forward.

U.K. Eyes August Breakthrough in Post-Brexit Japan Trade Talks

Following Brexit, the two countries are rushing to replace the U.K. part of the Japan-EU trade deal before time runs out on Britain’s transition period at the end of the year. Failure to put a new framework in place by that time would mean higher tariffs from 2021.

a truck that is driving down the road: A worker attends to a car carrier trailer at a port carrying Subaru Corp. vehicles in Kawasaki, Japan, on Thursday, Sept. 26, 2019. President Donald Trump and his Japanese counterpart Shinzo Abe touted a limited trade agreement on Wednesday, as the U.S. withdrew the threat of imposing auto tariffs on the Asian nation for now. © Bloomberg A worker attends to a car carrier trailer at a port carrying Subaru Corp. vehicles in Kawasaki, Japan, on Thursday, Sept. 26, 2019. President Donald Trump and his Japanese counterpart Shinzo Abe touted a limited trade agreement on Wednesday, as the U.S. withdrew the threat of imposing auto tariffs on the Asian nation for now.

The two sides are also clashing over British cheese exports, with the UK seeking to expand a lower-tariff quota agreed between Japan and the EU, while Japan wants to maintain the status quo, the paper said.

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©2020 Bloomberg L.P.

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