Japan Safeguard Tariff Hike for U.S. Beef Takes Effect
Newsfrom JapanPolitics Economy
Tokyo, March 18 (Jiji Press)--The Japanese government put into effect a tariff hike for U.S. beef Thursday for a 30-day run until April 16 as a safeguard measure to curb imports.
According to a government report released Wednesday, Japan's imports of U.S. beef since the start of fiscal 2020 had totaled 242,229 tons as of March 10, up 3 pct year on year.
The amount surpassed the 242,000-ton threshold set for fiscal 2020, which ends March 31, for triggering the emergency tariff hike, a step allowed under the Japan-U.S. trade agreement.
The tariff rate for U.S. beef now stands at 38.5 pct, up from the regular level of 25.8 pct. This is Japan's first safeguard tariff hike since August 2017, when a different mechanism was in place.
The tariff increase this time is "unlikely to have a major impact on Japanese people's lives" because the measure will be implemented for a relatively short period, agriculture minister Kotaro Nogami has said.
[Copyright The Jiji Press, Ltd.]