Australia, Japan agree on free trade deal
World BusinessApr 7, 2014
(AP) -- Japan and Australia have agreed on a free trade deal that both sides say will yield windfalls for their economies. Australian Prime Minister Tony Abbott and his Japanese counterpart, Shinzo Abe, announced the pact, Japan's first with a major agricultural economy, at a news conference Monday.The deal calls for Japan to gradually phase out its nearly 40 percent tariffs on Australian exports of beef. In turn, Australia is to end its tariffs on Japanese-made vehicles, household appliances an