U.S. Trade Representative Robert Lighthizer told lawmakers trade talks with Japan will likely start in March. Japan is the leading value destination for U.S. beef and pork. U.S. Meat Export Federation Economist Erin Borror says the competitive terrain is getting steeper for U.S. red meat due to Japan’s preferential trade agreements with Australia, European Union, Canada, New Zealand, Mexico and Chile. Borror is concerned the U.S. will suffer permanent losses in market share and related investment without clear indications the U.S. and Japan will reach an agreement soon.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.