News Brief 3/6/2013, Adar 24, 5773
Japan and US Agree on Auto Exemptions in Free Trade Pact
Tokyo and Washington have agreed on exemptions for the auto industry in a mooted Pacific-wide free trade pact, as Japan readies to announce its entry into negotiations, reports said on Wednesday.
The two Pacific powers agreed in principle that the United States will be able to keep tariffs on car imports -- 2.5 percent for passenger cars and 25 percent on trucks -- for at least five to 10 years under the Trans-Pacific Partnership (TPP), the Mainichi Shimbun and other media reported.
US President Barack Obama has cast the TPP as a vital plank in his so-called "pivot" to Asia