The Australian Financial Review reports that after 5 years of talks Japan is keen to conclude an agreement by July. The proposed terms of the deal are quite limited.
- Australia sought the elimination of all tariffs, but the deal will likely be for lower customs duties on a fixed quantity of farm products such as beef and dairy exports
- High tariffs will remain on “sensitive’’ farm produce such as rice
- Australia is apparently refusing to budge on it 5% tariff on Japanese cars
Japan free-trade deal close (gated)