Increase in GDP by 0.8% due to Japan-US trade agreement entering into force.
Regarding the new trade agreement between Japan and the United States, the government has announced a trial calculation that if the agreement comes into effect, it will increase GDP = gross domestic product by 4 trillion yen, or 0.8%. Government The ruling party wants to pass and approve the current parliament.
In response to the signing of a new trade agreement between the United States and Japan, the minister in charge of economic revitalization Nishimura announced a preliminary estimate of the economic effect when the agreement comes into effect at a press conference following the cabinet meeting.
According to it, the effect of the agreement is that trade and investment will expand and the productivity of the economy will improve, so GDP = GDP will increase by about 4 trillion yen from the previous year's level, or 0.8% as a rate. is.
Employment is expected to increase by approximately 280,000.
In this trial calculation, we have calculated that the tariffs have been eliminated for automobiles and auto parts that have been discussed continuously.
Mr. Nishimura said at a press conference, “For Japanese companies and agriculture, this is an agreement that can be expected to expand the market in the US and contribute to economic growth.
The government ruling party wants to pass and approve the agreement in the current Diet.