The government plans to submit an amendment bill to the current Diet to withdraw the trade incentives called "most favored nations" in order to strengthen sanctions on Russia.
This will raise tariffs on salmon and salmon roe imported from Russia.
The government is aiming to submit a bill to amend the Tariff Provisional Measures Law to the current Diet in order to withdraw the "most favored nation treatment" that guarantees trade incentives as sanctions on Russia.
"Most favored nation treatment" is one of the basic principles of the WTO = World Trade Organization Agreement, which states that the most favorable treatment given to any country by tariffs, etc. must be given to all other member countries. ..
If the amendment is passed, the low tariffs under the WTO rules that were previously applied to imports from Russia will be withdrawn.
Specifically, tariffs on many timber imported from Russia will be raised from 4.8% to 8%.
Also, salmon and salmon roe will be increased from 3.5% to 5%, and crabs will be increased from 4% to 6%.
These tax rates are expected to be maintained until the end of March next year.
On the other hand, LNG = liquefied natural gas, palladium, coal, crude oil, etc. are originally tax-free, and this measure does not change the tax rate.
By withdrawing the basic rules of the WTO, the government intends to show a strict stance toward Russia in line with the G7 = seven major countries.