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U.S. and Japan strike deal on beef tariffs

USandJapan

The United States and Japan on Thursday announced an agreement that will allow American farmers and ranchers to meet Japan’s growing demand for U.S. beef and lowers the chances of Japan imposing higher tariffs in future

   by Andrea Shalal – Reuters
 

The agreement includes a new mechanism that requires three separate conditions to be reached – instead of only one – for Japan to invoke a “safeguard trigger” and impose higher duties on U.S. beef for 30 days.

“This agreement is a great win for our two countries that ensures American farmers and ranchers can continue to meet Japan’s growing demand for high-quality U.S. beef,” U.S. Trade Representative Katherine Tai said in a statement.

 
“This is a mechanism that was in place for the TPP before the U.S. exited those talks, and we believe that this new agreement is a way of bringing the U.S. back to that scheme
 
 
 
 
 

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