708-Chaudhari Technical Institute, Gandhinagar - Gujarat ...

the 1970s, however, extraordinary tax action of costs for market development
and export endorsement.
Once chronic trade deficits came to an end in the mid-1960s, the require for
export promotion policies diminished. Virtually all export tax incentives were
eliminated over the track of the 1970s. Even JETRO, In the 1980s, Japan
constant to use industrial policy to support the growth of new, more complex
industries, but direct export promotion measures were no longer division of
the policy package.
The 1970s and 1980s saw the future out of policies to restrain exports in
certain industries. The great achievement of some Japanese export industries
formed a criticism in other countries, either because of their success per se or
because of allegations of unjust aggressive practices. Under General
Agreement on Tariffs and Trade (GATT) course of action, nations have been
reluctant to raise tariffs or compel import quotas. quota violate the guidelines,
and raising tariffs goes against the common trend connecting industrial
nations. Instead, they have resorted to persuasive the exporting country to
"voluntarily" hold back exports of the offending product. In the 1980s, Japan
was quite willing to carry out such export restraints. Among Japan's exports to
the United States, steel, color television sets, and automobiles all were topic
to such restraints at a variety of times.
Import policy of Japan
Japan began the postwar period with heavy import barrier. practically
all products were topic to government quotas, many faced high tariffs,
and MITI had power over the portion of the foreign exchange that companies
needed to pay for any import. These policies were acceptable at the time by
the weaken condition of Japanese industry and the country's regular trade
deficit.
The main impulsion for change throughout has been worldwide
commitment that is, response to foreign, rather than domestic, and force. The
result has been a lengthy, reluctant process of reducing barriers, which has
irritated many of Japan's trade partners.
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