April 1, 2004

Japan Lowers Australian Beef Import Tariffs

Japan lowered its 50% import duty on Australian beef back to the standard 38.5% as required under World Trade Organization (WTO) laws.

Japan took advantage of last year's spike in beef imports, sparked by a resumption in domestic beef consumption as consumer fears about BSE in the meat supply relaxed. When quarterly imports rise more than 17%, WTO rules allow Japan to temporarily boost import duties to protect its domestic livestock producers.