Foreign
UNITED States and Japan have agreed not to impose duties on critical materials exported to each other’s country, according to a statement released by the Office of the U.S. Trade Representative (USTR).
“The agreement between the government of Japan and the government of the United States of America
on strengthening critical minerals supply chains (the Agreement) supports workers and businesses in both’
electric vehicle sectors and sets standards countries for other economies to emulate,” the statement said.
Both sides expressed their commitments to refrain from imposing export duties on critical minerals exported to the other country.
They also agreed to discuss with each other their domestic measures to address non-market policies and practices of other parties affecting trade in critical minerals, the statement said.
The agreement also promotes the adoption of electric vehicle battery technologies, according to the statement.
The statement added that “specifically, the Agreement operationalises shared commitments by the U.S. and Japan with respect to the critical minerals sector.
“This is in order to facilitate trade, promote fair competition and market-oriented conditions for trade in critical minerals, advance robust labour and environmental standards, and expand cooperation in efforts to ensure secure, sustainable, and equitable critical minerals supply chains,”.
The U.S. and Japan pledged to share with each other best practices regarding the review of investments within their territories in the critical minerals sector by foreign entities.
They also pledged to coordinate efforts in enforcement actions related to labour rights in critical minerals
extraction and processing, the statement added. (Sputnik/NAN)
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Tags: U.S. Trade Representative
