Japan and Australia Finalize Trade Deal

Japan and Australia have agreed a trade deal which will see them lower tariffs on imports of key products.

Japan has agreed to lower duties on Australian beef and raise the duty-free quota on cheese – Australia’s biggest dairy export to Japan.

Australia will cut tariffs on Japanese electronics, cars and white goods.

The deal, agreed after seven years of negotiations, is expected to be finalised later this year when Japan’s prime minister visits Australia.

Australia’s Prime Minister Tony Abbott, who is currently visiting Japan, called the pact a historic one.

“This is the first time that Japan has negotiated a comprehensive economic partnership agreement or free trade agreement with a major economy, particularly a major economy with a strong agricultural sector,” Mr Abbott said.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza