TOKYO -- The Japan-U.S. trade agreement designed to reduce or eliminate a broad range of import tariffs was approved by majority vote of the ruling Liberal Democratic Party and others in the upper house of the Diet on Wednesday. The pact will reduce the tariff on U.S. beef in steps from 38.5% at present to 9% by fiscal 2033.
The Agreement between Japan and the U.S. on digital trade, which includes rules on e-commerce, was also approved. The two agreements will take effect Jan. 1.
