March 17, 2021
Japan to temporarily increase US beef import tariffs
Japan will temporarily increase tariffs on beef from the United States, as imports for the fiscal year ending March 2021 is expected to surpass the maximum import amount set under the Japan-US trade agreement signed last year, Kyodo News reported.
This will be the first time tariffs will increase for US beef imports under a safeguard measure since August 2017.
According to Japan customs data, by end-February, Japan imported 233,122 tonnes of US beef, just below the maximum 242,000 tonnes that was agreed for the current fiscal year.
Tariffs will temporarily increase from 25.8% to 38.5% under the safeguard measure for 30 days. Demand for US beef has surged following lower imports from Australia caused by a drought there.
Japan's agriculture and finance ministries did not comment on the Kyodo News report but said that import totals for early March will be released on March 17.
The ministries said if the total import volume surpasses the maximum level, the safeguard measure will be enforced the next day.
- Kyodo News