I wasn't trying to say they should be the same price, only that the increase in price is more than I would have anticipated.
In Japan, the 24-70/2.8 II will be Y230,000 (excluding tax):
and the 24-70/2.8 is Y220,000 (excluding tax):
The increase in price for the USA is due to the drop in value of the US dollar.
I may be lacking in basic understanding of economics, but that makes no sense. These are Canon Japan's MSRP; a ¥10000 difference in absolute terms means a difference of $129.
Perhaps a better way to phrase is would be that Canon is no longer giving US customers as big a price break. For example, on amazon.co.jp, the 24-70 lists for ¥144000, which converts to $1857 - based on the value of the dollar, that's what we should be paying, not the $1369 it lists at on B&H (not counting the $100 rebate). The MkII lists on amazon.co.jp for ¥195615 = $2523. So, we in the USA are still getting a break...just not as big a break.
The value of the dollar relative to the yen is only one factor - that alone doesn't explain the above. Obviously, $1 ≠ 1 €. But the prices aren't Canon deciding to bilk European or other customers around the world, and cutting those in the US some slack. Most people don't consider the negotiations, tariffs, and trade concessions that occur between Japan and the US and other countries. Those are the primary reasons that US prices are relatively lower than the rest of the world (or, depending on your viewpoint, that's why those in the EU, AUS, etc., get 'screwed').
The street price of the MkI has a much greater drop relative to MSRP than the MkII, which is to be expected for an old vs. a new lens.