!
65 Items to Be Excluded Japan Limonus Journal y 11.3.69
Policy on Preferential Tariffs
Three Ministries concerned | granted preferential tariff | the Agriculture-Forestry Min- with the problem of granting treatment, the three Minis-istry is said to have advanced preferential tariffs to develop | tries are said to have reached ing countries last week were
a policy understanding on the reported to have decided on
following points: a policy of setting the tariff cut at 50 per cent but to ex- clude about 65 products.
Firstly, the margin of the preferential tariff cut will generally be set at 50 per cent of that of existing tariff rates exclusive of exceptional cases.
Semi - advanced
nations,
(67)
ĮpurwuesFOBOTAVY-Un per cent,
principally in reaction to note- worthy increases in October and November, 1988 in antici- pation of U.S. dock strikes.
Long-term capital transac- tions in January showed an inflow \excess of $43 million for the first time in three months due to the high level the view, reportedly later ac-
of impact loans awarded to cepted, that items, such as private enterprises and securi- canned fruits, which are as- ties investments by foreigners sessed in the Brussels tarifas well as two foreign bond list as industrial products and issues ($20 milion by Honda considered as processed from Motor and $15 million by Mi- products by Japan should be tsul & Co.).
as farm products and that a policy of present- ing a positive list should be adopted.
handled
-XQ
In the financial/ account,
from loans
foreign banks decreased sharply in the out- standing
Fshort- balanç term overseas askets and liabilities of /Japanese change banks. As export bill holdings recorded a larger de- crease, however, the balance deteriorated $145 million dur- ing January to the $934\mil- on excess of liabilities at the end of the month.
The preferential tariff issue was taken up by the Foreign Ministry, the Ministry of In- ternational Trade & Industry
Secondly, the preferential tariffs will be limited to coun- and the Agriculture-Forestry Ministry in discussing the tries deemed to be developing
countries both as to descrip- As for the negative list, nature of the notification on preferential tariff extension tion and fact which are not | MITI is said to have advocat which the Government short-imposing trade discriminationed designating about 65 items
as exceptions. against Japan.
In presenting its notifica- such as Hong Kong, develop- tion to OECD, the Ministries ing countries which are bene- felt that Japan should point fiting from regional prefer- out the smallness of the im- ential tariff arrangements port value of items listed as and countries which are ap-exceptions in relation to to- plying Article 35 (reservation tal imports and the fact that ternal funds position at Janu clause) of the General Agree-Japan already is importing ary-end recorded an excess of ment on Tariffs and Trade goods and raw materials in assets of $2,001 million, includ against Japan will be exclud- large amounts on a duty-freeing a $44 million increase of
foreign exchange reserves. ed from application of the basis. preferential tariffs.
ly will have to make to the Organization for Economic Cooperation and Develop ment.
Such preferential tariffs are
scheduled to be enforced from next year.
In a study of the method to be applied and items to be Monal premium of 7 shilling 6 pence as last year for every contract to be executed with shipments in three to/four Thirdly, about 65 industrial months after conclusion was products will be placed on the also agreed on. The basic negative list (excluded from price w be the prevailing | cuts). LDP quotations.
J
1
The overall short-term ex-
Balance of Payments in January ........ (14, 1061), (in millions of dollars; a deficita)
1. Current Transactions ...........
Visible Trade
Exports men
Importa
Invisible Trade
Transfer Account
1. Long-term Capital Transactions.....
Short-term Capital Transactiòqa*
4
Errors & Omissions .........
"5.
Overall Ralance
Financial Account Balance**
Change of Foreign Exchange RegaTVED~~- Others ......
The Ministries are said to The Cubans, however, push-have reached agreement gen- ed through\ther refusal oferally to reduce tariffs by 50 five-month
longer-term per cent in preference to fol- contracts. The total volume | lowing the policy of the Eu- contracted før,though kept ropean Economic Community secret, is believed to be to avoid making exceptions somewhere, between 250,000 and to lift duties within a and 300,000 tons.
given framework. Japanese
refiners, sugar
It is understood that while who are the Free\ World's | the conferces discused the largest/Cuban sugar custom-EEC formula, they agreed ers, complained over the high-later that there were many er premium as LDP quota technical difficulties in apply tioné have doubled as coming it and it was preferable a'; pared to last year. The AI to adopt a 50 per cent reduc- Japan Sugar Refiners' Association policy in taking into aç- Mon accepted the deal in con- count moves on the part of sidering better, qualities of the United States. new Cuban sugár samples.
As to Individual products,
"
Jan, 69
Chg, from
Dec. 68
Jan, 65
..... 175.
⚫ 480
100
•
45 15 836
. 497
102
it'.
• 572
191
89
1240
6
《་.
39
4
43
161
101
A 25
54
45 10
37
▲ 259
-184
98
259
184
44
69
77
• 142
. 190
J:107.
Note: Exclusive of items belonging to Financial Account.
.95
** In Financial Account shows decrease of assets for Change of Foreign Exchange Reserves and decrease of masets or increase of liabilities for Others.
17. Trade Balance (Seasonally adjusted)
(In millions of dollars) Jan.-Mar. Apr.-June July-Sept. Oct. Nov, Dec.
68, ave.
Exports 945 Imports
...... 815 Balance..... 130
Oct.Dec.
Jan. 69
ave. 1,046
8201 228
ave.
ave.
1,074 1,114 1, 192
868
1, 167
1, 158
1,228
41 871
902
910
$94
906
206:
243.
290
257
264
1