Japan farm, food imports may face higher tariffs due to election

Japan could face higher tariffs on about 400 farm and food import items if the passage of a tax bill to extend provisional tax rates is delayed due to a snap general election on Sunday.If parliament fails to swiftly extend the provisional tax rates, set to expire at the end of March, importers will be required to pay higher taxes, potentially raising prices for consumers.The provisional tax rates apply for a fixed period to protect domestic industries and help ensure stable supplies through imports.Of the 412 items that are set to see their provisional tax rates expire, 404 are due to have …READ FULL ARTICLE