After seven years of negotiations, the Federal Government announced an historic free trade agreement between Australian and Japan this week, which is set to benefit Australian shoppers.
While Australia's agricultural industry will see tariff cuts for exports such as beef and sugar, the agreement will also benefit Australian consumers, especially those buying Japanese electronics.
A joint media release from Prime Minister Tony Abbott and Minister for Trade and Investment Andrew Robb, announced the agreement would see "tariffs eliminated on imported cars from Japan, as well as on household appliances and electronics".
The Department of Foreign Affairs and Trade has confirmed a full list of products that are eligible for a 5 per cent tariff cut — while it's not a massive price cut, it should hopefully bring prices down for consumers at the store level.
The free trade agreement will cut tariffs on Japanese imports in the following categories:
- Television cameras, digital cameras and video camera recorders
- Air conditioning machines and parts
- Fridges, freezers, and heat pumps
- Rechargeable batteries — nickel-metal hydride and lithium-ion
- Colour televisions
- Vacuum cleaners
- Clothes dryers
- Dishwashing machines
- Small electric appliances, including hair dryers, hand dryers, toasters and cook plates