Japan to keep tariffs on sensitive farm product imports in RCEP deal

Japan will exempt its key farm products including rice and wheat from being subject to tariff cuts or elimination in a mega regional trade deal between Asia-Pacific countries including China, a draft of the agreement showed Tuesday.Under the proposed Regional Comprehensive Economic Partnership, Japan will retain tariffs on its five sensitive agricultural product categories — rice, wheat, beef and pork, dairy and sugar — to protect domestic farmers from a potential influx of cheap imports, according to the draft.The leaders of 15 out of the 16 RCEP members plan to strike the regional free tra…

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HEDGE accordingly