Japan: Agreement with EU would remove, reduce customs tariffs

Japan: Agreement with EU would remove, reduce tariffs

Representatives of Japan and the European Union on 6 July 2017 reached an “agreement in principle” on the main elements of the Japan-EU economic partnership agreement.

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Both sides have made a commitment to eliminate customs tariffs on industrial goods. Particularly, the agreement could have a significant effect on the apparel industry from a tariff reduction perspective. At present, Japanese tariffs on clothes are 10% (on average). The Japan-EU agreement would be expected to remove tariffs on textiles and textile articles completely once the agreement enters into force. Additionally, tariffs on leather and footwear would be phased out over a period of 10 or 15 years.

There are expectations that a Japan-EU economic partnership agreement would enter into force at the beginning of 2019.  

 

For more information, contact a professional with KPMG’s Trade & Customs practice in Japan:

Masaharu Umetsuji | +81 3 6229 8070 | masaharu.umetsuji@jp.kpmg.com 

Kozu Takayuki | +81 3 6229 8205 | takayuki.kozu@jp.kpmg.com

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