Staff writer
Japan will phase out its preferential tariff treatment of imported products from South Korea and other relatively rich developing economies, beginning in fiscal 1998, government officials said Monday.
The timetable for scaling back the tariff program for developing countries -- known as the generalized system of preferences, or GSP -- will be drawn up based on recommendations by an advisory panel to Finance Minister Hiroshi Mitsuzuka, said the officials, who requested anonymity.