TOKYO: A Japan-US trade agreement that will go into effect on Jan 1,2020, will benefit Japanese consumers, partly because Japan’s tariffs on beef will be lowered. On the other hand, domestic livestock farmers will face intense competition due to imported products.
Tariffs on US beef imports, which currently stand at 38.5%, will be lowered to 26.5% when the pact goes into effect, making import prices cheaper.
“When I eat US beef, I grill it or put it in my curry, ” a 47-year-old self-employed man said. “I’d be grateful if the price of beef were much cheaper.” The United States has famous vineyards, including in California. The Agriculture, Forestry and Fisheries Ministry estimated that the enforcement of the pact would lead to a reduced beef output of ¥23.7 billion to ¥47.4 billion.Tariffs on cars next to discuss Tokyo and Washington have agreed to discuss which fields should be renegotiated within four months after the pact goes into effect.
In the US industry, there are strong opinions that the pact is insufficient, and the United States should aim to agree on a more comprehensive deal.
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