The news that the Japanese Parliament has ratified a trade agreement with the U.S. is being praised by the livestock industry. National Cattlemen’s Beef Association Vice President of Government Affairs Ethan Lane calls it a huge win for U.S. cattle producers. “About $2 billion worth of beef is sent to Japan each year under current conditions,” says Lane. “January 1 that tariff drops to 26.1 percent and come April 1 it drops again. That adds almost $100 per head on a fed steer for U.S. producers.” The approval is also welcomed by the U.S. Meat Export Federation. “This is one of the biggest developments in the history of red meat trade,” says USMEF President and CEO Dan Halstrom. Japan is the largest value destination for U.S. pork and beef exports, with the combined export value in 2018 at $3.7 billion.
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.