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The surplus reached a record US$18.2 billion in 1978, promoting considerable tension between the United States and Japan. In 1979 petroleum prices jumped again, and Japan's trade balance again turned to deficit, reaching US$10.7 billion in 1980. Once again, rapid export growth and stagnant imports returned Japan quickly to surplus by 1981.
The U.S. Meat Export Federation estimates that expanded access without the age restrictions could increase U.S. beef sales to Japan 7% to 10%, or by $150 million to $200 million annually. It said the ability of the industry to use beef from over-30-month cattle also will lower costs for companies exporting processed beef products to Japan.
A voluntary export restraint (VER) or voluntary export restriction is a measure by which the government or an industry in the importing country arranges with the government or the competing industry in the exporting country for a restriction on the volume of the latter's exports of one or more products.
Before the ban, China was the biggest market for Japanese seafood exports. Japan's exports of agricultural, forestry and fishery products in the first half of 2024 fell for the first time since ...
Japan would welcome the European Union's lifting of restrictions on food imports imposed after a 2011 nuclear accident triggered by a major earthquake and tsunami, a government spokesperson said ...
In 1980 Western Europe supplied only 7.4 percent of Japan's imports and took 16.6 percent of its exports. However, the relationship began to change very rapidly after 1985. West European exports to Japan increased two and one-half times in just the three years from 1985 to 1988 and rose as a share of all Japanese imports to 16 percent.
The South Korean government has launched a new learning website for companies puzzled by Japan's recent trade restrictions against the country amid growing confusion over changes of rules about ...
An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time. [1] Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy ( protectionism ).