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An official of Japan’s Ministry of Finance said on Tuesday that Japan is reviewing preferential trade policies for developing countries and may cancel preferential treatment on about 450 commodities in China.
China has become Japan’s largest trading partner and will surpass Japan as the world’s second largest economy.
The official responsible for the customs affairs of Japan’s Ministry of Finance stated that based on this policy review, 450 items from China may face tariff increases, including plastic products and clothing.
The official said: "We are not targeting specific countries. We have begun to take these measures so that competitive products are removed from the list of concessions, and other developing countries can benefit more."
China has become Japan’s largest trading partner and will surpass Japan as the world’s second largest economy.
The official responsible for the customs affairs of Japan’s Ministry of Finance stated that based on this policy review, 450 items from China may face tariff increases, including plastic products and clothing.
The official said: "We are not targeting specific countries. We have begun to take these measures so that competitive products are removed from the list of concessions, and other developing countries can benefit more."
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