Reports: U.S., Japan reach agreement in principle

The U.S. and Japan have reached an agreement in principle, Japanese media reported on Saturday, exchanging more Japanese agriculture market access for potential auto tariff liberalization. “While the U.S. put off a decision on whether to abolish a 2.5% tariff on Japanese autos, Japan will lower its tariffs on beef and pork to levels set by the revised Trans-Pacific Partnership,” the Nikkei Asian Review reported . “The agreement will likely take effect within the year.” The Office of the U.S...