Japan’s Akazawa: Trade deal with US guarantees lowest tariff rates for chips, pharma

Japanese Economy Minister and top trade negotiator Ryosei Akazawa said on Tuesday,  “my understanding is that if a third country reaches an agreement with the United States (US) on lower sectoral tariffs such as chips and pharmaceuticals, the same rate would apply to Japan.”

Additional quotes

Labor shortages will be the biggest factor for the supply bottleneck for the Japanese economy

My previous comment that equity would account for just 2% of $550 trade package agreed with the US is based on the ratio of the Japan Bank for International Cooperation’s (JBIC) equity investment over loans in FY2023.