Japan-Peru Economic Partnership Agreement

The Japan-Peru Economic Partnership Agreement (EPA) entered into force in March 2012. 

The Agreement provides for the reduction or elimination of import tariff for most energy sector products, including iron, metals, steel, battery packs and cells, anodes, heat pumps, electric cars, and ICE cars.
 
Specific rules of origins apply: in order to qualify for preferential tariff treatment, products need to be wholly obtained on one of the Parties' territories, have undergone a significant production process there or satisfying a 35% minimum local value content requirement.

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