User login

U.S. Secures 25-Year Tariff Phaseout For Japanese Autos, 30 For Trucks

October 5, 2015 at 11:17 AM
ATLANTA -- Under the Trans-Pacific Partnership (TPP) deal announced on Monday (Oct. 5), the United States will eliminate its 25 percent tariff on trucks after 30 years, and get rid of the 2.5 percent tariff on automobiles after 25 years. Under a U.S.-Japan understanding from April 2013, the phaseouts on all motor vehicles will be “backloaded to the maximum extent." That agreement had also provided that the treatment for motor vehicles from Japan under TPP would “substantially exceed” that provided...

Not a subscriber? You can request 30 days free access to exclusive, behind-the-scenes reporting on trade policy in the Biden era.