Japan might increase the amount of agriculture trade conducted with the U.S. through potential trade deal that was announced by President Trump following a meeting with Japanese Prime Minister Shinzo Abe.
Beef producing countries like Australia, Canada, New Zealand and Mexico are gaining greater access into Japan thanks to lowered tariffs, giving those exporters a significant advantage over U.S. beef producers.
Japan is set to restore tariffs on frozen beef from the United States and other countries to usual levels from April 1, ending a hike put in place eight months earlier to protect domestic producers as an emergency.
U.S. President Trump and Japanese Prime Minister Shinzo Abe said they have agreed to intensify trade consultations between the two longtime allies, with an aim to expand investment and trade between their countries.
U.S. beef has full access into the Japanese market for the first time in 16 years, but it is still not at a level playing field compared to countries who remained in the Trans-Pacific Partnership (TPP) trade agreement.