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.
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.
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.
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 on Friday lifted longstanding restrictions on U.S. beef in an agreement announced by USDA Secretary Sonny Perdue. The move is expected to pave the way for expanded sales to the U.S.’s top beef export market.