Japan Implements Temporary Higher Tariff on US Beef Imports
Japan is temporarily hiking tariffs on U.S. beef imports, from 25.8% to 38.5%, for one month, Japan's agriculture ministry said, Reuters reported March 17. It said the bump up is because fiscal year 2020 volumes exceeded levels agreed to in…
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the bilateral trade agreement signed between the two nations in January 2020. By early March, U.S. beef imports had reached 242,229 metric tons, topping the 242,000 metric ton limit set for the current fiscal year. The heightened tariff rate will last through April 16, marking the first use of the safeguard measure under the agreement. It will drop to 25% on April 17, the Reuters report said.