Japan to end preferential tariffs for China, four others
Japan has proposed stricter tariff rules that would knock five trading partners including China and Mexico off the list of countries receiving preferential treatment for emerging economies. A finance ministry customs committee said on November 24 that the list of nations qualifying for zero or minimal import tariffs on certain goods would be revised to exclude nations that account for 1% or more of world exports or make the World Bank’s list of upper-middle income economies for three years running. Currently, trading partners need to qualify as high-income economies for three years to have preferential status revoked. The rules change would end special treatment for China, Mexico, Brazil, Thailand and Malaysia.
