U.S. and Japan reach beef trade agreement! Japanese market opens further to U.S. beef. For more information on export to China, please call SINOLOBEN, service Email: firstname.lastname@example.org.
The U.S. and Japanese governments have reached an agreement to increase the trigger level for Japanese safeguards on the beef industry and help meet Japan's growing demand for U.S. beef.
The Office of the U.S. Trade Representative (USTR) and the U.S. Department of Agriculture also noted that the agreement will reduce the likelihood that Japan will impose higher tariffs on U.S. beef. The U.S. Secretary of Agriculture said the agreement is good news for U.S. farmers and ranchers and supports further growth in U.S. beef exports to the Japanese market.
The agreement adds three trigger conditions that Japan must meet before it can implement market safeguards and impose higher tariffs.
The trigger conditions include.
- Imports of U.S. beef must exceed the original beef safeguard trigger level in the U.S.-Japan trade agreement.
- Total beef imports from the United States and the original signatories to the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) must exceed the CPTPP beef safeguard requirements.
- Beef imports from the U.S. must exceed the total beef imports from the U.S. in the previous year.
Last year, global sales of U.S. beef products reached $10 billion, making it the world's largest beef exporter. Of that total, U.S. beef exports to Japan totaled nearly $2.4 billion.
After the deal was finalized, the U.S. Meat Exporters Federation (USMEF) issued a positive statement about the deal.
"USMEF greatly appreciates the efforts of USTR and USDA to strengthen Japanese protections for U.S. beef," said USMEF President and CEO. "The U.S.-Japan trade agreement is a breakthrough for the U.S. meat industry, including a significant reduction in Japanese tariffs on U.S. beef, but the competitive environment has not yet been fully opened because of this safeguard. The changes announced today reduce the potential impact of the market safeguard on the beef business and reduce the uncertainty it creates for U.S. exporters and their customers in Japan."
The trade association added that U.S. beef exports to Japan exceeded 320,000 tons in 2021, setting a new record of $2.38 billion. However, U.S. beef was subject to higher tariffs than competitors for 30 consecutive days from mid-March to mid-April after imports exceeded guaranteed volumes.
The NCBA Association also welcomed the news from the U.S. Trade Representative's office and what it means for U.S. beef producers. "While the details of the agreement in principle have not been disclosed, NCBA is encouraged that today's announcement means that we are taking the necessary steps to ensure that we can secure a long-term solution for the Japanese market that will allow U.S. cattle producers to continue to provide Japanese consumers with high-quality, well-priced U.S. beef." NCBA's senior director of international trade and market access said.
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