Japan imposes month-long tariff hike on U.S. beef imports
TOKYO, Japan: Japan imposes tariff will increase on beef imported from america as a safeguard measure, as volumes attain the edge mutually agreed by the 2 nations for the fiscal yr ended 31 March, in line with the announcement made Wednesday by the Japanese Ministry of Agriculture.
Efficient March 18, the speed will drop from 25.8% to 38.5% for one month, ending April 16.
Japan adopted an analogous technique in August 2017 on US imports of frozen beef.
The ministry famous that US imports of beef to Japan stood at 242,229 tonnes initially of March, exceeding the restrict of 242,000 tonnes set out within the commerce settlement signed between the 2 nations for the present fiscal yr. .
A ministry official identified that US beef consumption in Japan has elevated alongside a drop in imports from drought-stricken Australia.
An business supply identified that Japanese tariffs on beef from america have been lowered after the commerce settlement between the 2 nations got here into impact in 2020, thus boosting the competitiveness of American beef.
Nevertheless, prospects don’t stand to achieve from the meat tariff improve, because the determine will drop to 25% on April 17, the extent determined for the brand new fiscal yr beginning in April, and beef importing events may postpone customs procedures till time, a ministry official stated.