Concerns about 'direct hits' if tariffs on Japanese sake fall

Published 2020년 11월 20일

Tridge summary

The Regional Comprehensive Economic Partnership Agreement (RCEP) has been concluded, and while the government expects minimal impact on agriculture, industry and experts warn of potential damage, particularly with the elimination of tariffs on Japanese products such as sake and beer. Concerns are also raised about the impact on traditional Korean beverages and agricultural products, as well as animal and plant sanitation and quarantine measures. The agreement aims to open additional markets to ASEAN, China, Australia, and New Zealand, and includes a provision for import risk analysis to ensure localization and equivalence, which could impact the importation of agricultural and livestock products.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

“The damage to the agricultural sector is expected to be small.” This is a statement from a government official on the 15th when negotiations for the Regional Comprehensive Economic Partnership Agreement (RCEP and Alseph) were concluded. Will RCEP have a negligible effect on the agricultural sector? Related industry and experts pointed out that "there may be items that cause great damage, and unexpected damage may occur." The representative one is Cheongju. The conclusion of the RCEP is meaningful to open additional markets to ASEAN, which previously signed a Free Trade Agreement (FTA), and to China, Australia, and New Zealand, and to sign a new FTA with Japan. Looking at Korea's concession (tariff reduction and abolition) plan, which was partially disclosed by the government, Japanese sake imported at a current 15% tariff is eliminated for 15 years. Beer (30%) will be abolished in 20 years. Japanese sake, called ``sake,'' is popular in Korea even if it is not. Imports of Japanese ...

Source: Nongmin