Japanese bid to cut surplus
:NZPA-Reuter Tokyo | The Japanese Government I will cut import tariffs on 1124 items by an average of 23 per cent from today to increase Japan’s imports and improve its trade relations with abroad, the Finance Ministry has said. The enforcement of the cuts, originally scheduled to take effect from April, were apparently prompted by prospects that Japan’s current accounts surplus would top $lO billion in the fiscal year ending this month despite Government efforts to keep the surplus from crashing through the barrier.
The Ministry said the enforcement of the lower tariffs, approved by the Diet (Parliament) on Wednesday, was to be subject to a Cabinet meeting.
The tariff cuts, applied globally, were agreed when Japan and the United States in January discussed their trade imbalance, leaving an estimated trade surplus of about $5.3 billion to Japan last year. The Ministry said the .products included electric computers, colour photo film, wines, Scotch whisky, .and brandy.
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Press, 4 March 1978, Page 8
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160Japanese bid to cut surplus Press, 4 March 1978, Page 8
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