Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
In October 2019, the United States and Japan signed the U.S.-Japan Trade Agreement and the U.S.-Japan Digital Trade Agreement, which entered into force on January 1, 2020. The U.S.-Japan Trade agreement eliminates or reduces tariffs on approximately $7.2 billion in U.S. agricultural exports and the U.S.-Japan Digital Trade Agreement includes high-standard provisions that ensure data can be transferred across borders without restrictions, guarantee consumer privacy protections, promote adherence to common principles for addressing cyber security challenges, support effective use of encryption technologies, and boost digital trade.
On October 23, 2020, Japan and the United Kingdom signed a Comprehensive Economic Partnership Agreement (CEPA). The two governments had previously reached agreement in principle via videoconference on September 11 regarding this deal, based largely on the Japan-European Union Economic Partnership Agreement. The Japan-UK trade agreement must still be approved by Japan’s National Diet and the U.K. Parliament, which the two governments expect to obtain by year’s end for entry into force on January 1, 2021. A full text of the agreement is available from Japan’s Ministry of Foreign Affairs (here) and a summary is available from the U.K. government (here).
A list of Japan’s other concluded trade agreements and EPAs, as well as those being negotiated, can be found at this link from the Japan’s Ministry of Foreign Affairs.
Notable agreements include the Japan and the European Union (EU) EPA, which has been in force in February 2019. See here for a text of the agreement. In 2018, Japan and six other countries (Australia, Canada, Mexico, New Zealand, Singapore, Vietnam) signed and ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Four other countries (Brunei, Chile, Malaysia, Peru) are signatories but have not yet ratified the CPTPP.
Japan had also entered into economic partnership agreements (EPAs) with these 14 countries, plus ASEAN:
Japan has held ongoing negotiations for a Regional Comprehensive Economic Partnership free trade agreement since 2012 with several countries, including:
- ASEAN members
- South Korea (Republic of Korea)
- New Zealand
For information on sector-specific agreements between the United States and Japan visit the Department of Commerce Enforcement and Compliance website.
Japan is a full member of the World Trade Organization (WTO).