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Little Joy For Car Buyers In Japanese And Korean Free Trade Agreement

There will be little joy for Australian car buyers in the Free Trade Agreements now signed with both Japan and Korea. Australian tariffs on imported cars are negligible, just five percent. Made negligible in their impact on retail prices on cars imp


There will be little joy for Australian car buyers in the Free Trade Agreements now signed with both Japan and Korea.

Australian tariffs on imported cars are negligible, just five percent.

Made negligible in their impact on retail prices on cars imported from Japan and Korea, in fact, by global currency fluctuations and the forward hedging that all car importers do to offer stable prices in this market (and other markets).

When the dollar was sitting above 105 cents against the US dollar (and with similar relativity against the Yen) exactly a year ago, car importers were enjoying a 15 percent+ advantage in their currency dealings and in the price they pay for their imported products.  

TMR Managing Editor

 

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