American cattle producers will have better opportunities to export to Japan following an agreement between the two countries that will lower the risk of Japan imposing higher tariffs. U.S. Trade Representative Katherine Tai and U.S. Ag Secretary Tom Vilsack announced this past Thursday a new mechanism that requires three separate conditions be reached for Japan to invoke a “safeguard trigger” that imposes higher duties on U.S. beef for 30 days. Previously, only one condition had to be reached for the trigger to go into effect.
The agreement is a positive development for both countries, according to Vilsack. Last year, the U.S. was the top beef-exporting country in the world, with global sales values at over $10 billion. Exports of U.S. beef to Japan totaled 320,000 metric tons, or about $2.4 billion.
Read more on the agreement and how it benefits U.S. beef producers here.
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