The United States and Japan settled a dispute over restrictions on American leather imports, with Japan agreeing to give the United States $260 million in trade concessions. Since 1963, Japan has maintained import quotas that the United States has complained have limited American sales to 1% or less of Japan's $1.6-billion leather market and $2.7-billion leather footwear market. Under the agreement, the United States will get $236 million in concessions on American imports to Japan, while withdrawing $24 million in concessions now allowed some Japanese imports. Japan will reduce or eliminate tariffs on 142 American items.
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