Japanese Government Approves Amended Beef Safeguard Mechanism
The Upper House of Japan’s government, the Diet, recently approved the Protocol Amending the U.S.-Japan Trade Agreement regarding the beef safeguard mechanism. The U.S. Trade Representative’s Office said that completes the Diet’s process of finalizing the agreement. The new three-trigger safeguard mechanism will allow U.S. exporters to meet Japan’s growing demand for high-quality beef and reduce the probability that Japan will impose higher tariffs in the future.
“The protocol will ensure our farmers and ranchers continue to have access to one of the world’s most dynamic markets,” said USTR Katherine Tai. “We are excited that Japanese consumers can enjoy high-quality U.S. beef that’s a staple of our agricultural industry.”
In 2021, the U.S. was the top beef exporting country in the world, with global sales of beef products valued at more than $10 billion. U.S. beef exports to Japan totaled almost $2.4 billion in 2021, making Japan the second-largest export market.
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