Sign up here to access free tools like favorites and notifications or to access personal subscriptions The Japan-Mexico Free Trade Agreement was Japan`s first comprehensive agreement with each country. Signed in 2004 and imposed in 2005, Japan has become, ten years later, Mexico`s fifth largest export destination, with $4.4 billion in exports. The Free Trade Agreement between Japan and Mexico, commonly known as the Economic Partnership Agreement (EPA), has eased tariffs on goods and services. In 2011, the application of lower tariffs on certain agricultural products from Japan and on Mexican imports on auto parts and jet printing paper was revised. The partnership increased Japanese investment in Mexico because it had access to broader markets in the United States and Canada. The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded free trade agreements, see below. As part of the so-called Phase 1 agreement, Trump rejected his plan to impose $160 billion in tariffs on Chinese imports and halved import taxes to an additional $110 billion. (The government still maintains tariffs on $360 billion worth of Chinese goods and Beijing has imposed retaliatory duties on U.S. exports.) In return, China expressed its readiness to do more to protect intellectual property and limit its practice of forcing foreign companies to obtain trade secrets as an admission price to the Chinese market. An interactive list of bilateral and multilateral free trade instruments can be find on the TREND Analytics website. [59] To see the full text of the agreement between the United States, Mexico and Canada, click here.
A free trade agreement is an agreement involving two or more countries to reduce barriers to trade between the parties in import and export traffic. Agreements may include easing or removing tariffs on goods and services transiting across regional borders, and may consist of environmental and social provisions based on these products. Free trade agreements can be unilateral, bilateral or multilateral, and most countries have more than one. Colombia, Venezuela and Mexico account for about 70% of the great region. The three countries concluded a free trade agreement in 1994 that protects intellectual property rights and public sector investment.