Japan to raise tariffs on US beef

Japan will increase tariffs on U.S. beef temporarily in an effort to slow import volumes. Currently set at 25.8%, the tariff will rise to 38.5% as early as this week, and will be in effect for one month, according to USDA’s Foreign Agricultural Service (FAS). As part of a 2019 trade pact with the U.S., Japan is allowed to raise tariffs if beef imports reach 242,000 metric tons for the fiscal year. Japan Customs reported imports of US beef from April 1, 2020, to March 10, 2021, reached 242,229 tonnes, exceeding the safeguard trigger level. The temporary tariff increase will begin March 18 and end April 16. The USJTA began in January of 2020, under which Japan committed to phasing out most tariffs, enacting tariff reductions, or implementing lower duties on a specific quantity of imports. Read more at Drovers…