Following the signing of a new FTA between Japan and the US, Japanese retailers have moved promptly to slash prices of US fresh produce. The new trade deal was signed in October 2019, but only came into effect on 1 January 2020. The major beneficiary of the agreement was the fresh produce sector, with the tariffs eliminated on blueberries, cranberries, sweet corn, broccoli and prunes. Other products which will see a staggered elimination of tariffs include fresh cherries and oranges.
According to Japan Times, Retailer Ito-Yokado held a six-day sale during which it cut the price of oranges by 10-20 per cent, while Aeon Retail plans to reduce kiwi prices and Seijo Ishii will discount US nuts.
TAGS: Japan, US, FTA