Initial Trade Meetings With Japan Taking Place This Week

The Office of the U.S. Trade Representative has confirmed that initial meetings aimed at reaching a trade agreement with Japan are taking place Monday and Tuesday of this week.  That is welcomed news for the U.S. beef and pork industry.

According to the U.S. Meat Export Federation, Japan is the #1 market for beef and pork, with over $3.5 billion annual in sales.  USMEF President and CEO Dan Halstrom said while the numbers are good for America producers now, that will change.  He said the U.S. is at a severe disadvantage not being part of the CPTPP.

“Each year that we go, we will become more of a disadvantage, so it’s imperative that we get the negotiations started and the fact that we are starting is very, very good news, because it’s showing our trade partners in Japan, that we are serious about being on a level playing field with our international competition like Australia.”

Major beef suppliers participating in CPTPP are Canada, New Zealand, Australia and Mexico.  Currently those countries face a duty of 26.6%, which will decline to 9% over the next 14 years.  While American beef producers pay an import duty of 38.5%.

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