US beef industry says TPP will lower export tariffs - leatherbiz: Lea Leatherbiz

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US beef industry says TPP will lower export tariffs to Japan by 75%

19/05/2016
The North American Meat Institute (NAMI) has welcomed the findings of a new report into the possible impacts on the meat sector of the proposed Trans-Pacific Partnership (TPP). Compiled by the US International Trade Commission, the  report affirms potential economic gains for the US industry.

NAMI president, Barry Carpenter, said in response that TPP, a trade agreement among 12 Pacific Rim countries that was signed by the trade partners in February 2016 and is now waiting to be ratified by national governments, will be of “critical importance” to the stability and viability of the US meat and poultry industry.

He said the agreement will facilitate trade and investment, reduce or eliminate trade barriers on US meat, yield greater value for US packer companies and support jobs in the US.
 
In 2015, 10% of US beef production was exported to overseas markets. NAMI believes growing exports to “high-tariff, high-demand markets” such as Japan and Vietnam, will become more achievable under TPP. It explained that Japan will reduce import tariffs on US beef by 75% over a period of 15 years, eventually lowering the tariff to 9% from the current level of 38.5%.
 

Related stories:

USMEF “fully committed” to trading partners after TPP withdrawal 24/01/2017
EU countries targeting Japan for beef 10/06/2016
US beef exports down in April 07/06/2016

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