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Friday, February 14, 2014

Japan and Australia resume EPA talks

Japan and Australia are still making efforts behind closed doors to conclude a free-trade agreement. Japanese tariffs on Australian beef are a major stumbling block in the talks.


Negotiations for an Economic Partnership Agreement have been going on for seven years. The talks have stalled over Japan's import tariffs on agricultural products.

The negotiations moved behind closed doors after Australia's new prime minister, Tony Abbot, took office in September last year.

Sources say Japan is considering lowering the tariff on beef to around 30 percent. The current rate is 38.5 percent.
Regarding chilled beef, Japan wants an emergency measure, the so-called 'safeguard', to temporarily raise tariffs if such beef imports from Australia surge.

But Australia is actually asking Japan to lower its tariffs on beef.

The two sides are also at odds over Australian tariffs on Japanese passenger vehicles.