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

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