Japan to phase out tariffs on US wine imports as part of trade deal

Japan taxes imported wine at a rate of 15% or 125 yen ($1.16) per litre, whichever is cheaper, according to the Nikkei

Japan has agreed to phase out tariffs on US wine imports as part of a bilateral trade deal expected to be signed at the end of the month, the Nikkei reported on Sunday. Japan will eliminate the tariffs within five to seven years after the trade agreement goes into effect, the Nikkei reported without giving its sources. 

Japan taxes imported wine at a rate of 15 per cent or 125 yen ($1.16) per litre, whichever is cheaper, according to the Nikkei. The elimination of the tariff could cut the cost of US wine by about 13% for wine distributors, the Nikkei said.