Saturday, July 29, 2017

Japan Imposes Stiff Tariffs on Imported US Frozen Beef

Fumble Board

In unwelcome news for American farmers, Japan said Friday that it was imposing emergency tariffs of 50 percent on imports of frozen beef, mainly from the U.S. The increase, from 38.5 percent to 50 percent, will begin August 1, 2017 and last through March 31, 2018.

Under World Trade Organization rules, Japan can impose safeguard tariffs when imports rise more than 17 percent, year-on-year in any given quarter. The framework was to be scrapped under the Trans-Pacific Partnership, a proposed 12-nation trade deal that included the USA and Japan, but Mr. Trump pulled the US out of the TPP before it went into effect. But U.S. President Donald Trump withdrew from that accord after taking office.

Read more...


No comments:

Post a Comment