Japan to raise tariffs on US beef imports

Japan is set to raise tariffs on U.S. beef imports thanks to increase in the volume levels agreed to between the two nations for the fiscal year ending on March 31, Japan’s agriculture ministry.

From Thursday, the tariff will rise to 38.5% from 25.8% for 30 days – the first time the safeguard measure has been imposed on the US beef imports since August 2017.

It should be mentioned here that the island country imported over 242,220 tonnes of U.S. beef by early March, surpassing the maximum 242,000 tonne-limit decided under the Japan-US trade agreement for the current financial year.