Publication Number: 3489

Report Title: Deregulation In Japan: Status and Benefits; U.S.-Vietnam Bilateral Trade Agreement Takes Effect, Heralding Lower Duties forImports From Vietnam; New Trade and Investment Framework Agreement Between the United States and the Common Market for Eastern and Southern Africa; USITC Reports that CBERA Imports Will Likely Increase

Author's name(s): Diane Manifold, Walker Pollard, Laurie-Ann Agama, Saba Zeleke, Thomas F. Jennings

Date Published: February 2002

Report Description/Introductory Text: In “Deregulation In Japan: Status and Benefits,” despite numerous deregulation plans over the years, Japan’s economy remains highly regulated. Foreign companies face bureaucratic delays and regulations in attempting to enter or operate in the market.
Nonetheless there has been some progress towards deregulation and a July 2001 study estimates that deregulation has created economic benefits worth about $127 billion during 1989-2000. Additional benefits will depend on the leadership of the Prime Minister.

According to “U.S.-Vietnam Bilateral Trade Agreement (BTA) Takes Effect, Heralding Lower Duties for Imports From Vietnam,” the BTA took effect on December 10, 2001. U.S. imports from Vietnam will now be subject to significantly lower duties under normal trade relations (NTR) status. U.S. imports from Vietnam are likely to increase substantially as NTR rates come into effect.

“New Trade and Investment Framework Agreement Between the United States and the Common Market for Eastern and Southern Africa” details how the United States recently signed a Trade and Investment Framework Agreement (TIFA) with the Common Market for Eastern and Southern Africa–the first such agreement between the United States and a regional organization in sub-Saharan Africa. This article describes recent U.S.-COMESA trade and investment trends.

“USITC Reports that CBERA Imports Will Likely Increase.” As a result of a recently inaugurated expansion of the Caribbean Basin Economic Recovery Act (CBERA), U.S. imports from Central American and Caribbean beneficiary countries–particularly of
textiles and apparel–have already increased. It is expected that this trend will increase and such imports will eventually dominate trade from the region.

Topics Covered: USITC, Common Market for Eastern and Southern Africa (COMESA), Caribbean Basin Economic Recovery Act (CBERA), NAFTA, U.S.-Vietnam Bilateral Trade Agreement (BTA), normal trade relations (NTR), Trade and Investment Framework Agreement (TIFA), deregulation

Countries: Japan, Vietnam, Madagascar, Kenya, Namibia, Mauritius, Swaziland, Egypt, Angola, Dominican Republic, Trinidad and Tobago, Guatemala, Costa Rica, Mexico, Belize, Honduras

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