US to be the loser after new Japan trade deals - leatherbiz: Leading n Leatherbiz

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US to be the loser after new Japan trade deals

31/07/2018
The US Meat Export Federation (USMEF) has said new trade deals involving Japan could leave US beef and pork at a distinct disadvantage compared to rival sources such as the European Union, Canada, Mexico and Australia.

“With the European Union and Japan recently signing a comprehensive economic partnership agreement and the 11-member Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) moving toward implementation, USMEF has prepared an initial assessment of the potential US pork and beef industry losses that could result from Japan’s participation in these agreements,” the organisation said on July 30.

CPTPP is the reborn Trans Pacific Partnership, which began to come together after US president, Donald Trump, turned away from the original at the start of 2017. The other 11 countries involved, Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, have agreed, but not yet ratified, the CPTPP instead.

USMEF anticipates that CPTPP and the agreement between Japan and the European Union could both come into force in April 2019. After that, beef from Canada, New Zealand and Mexico will  enjoy more favourable market access in Japan than the US, and the same will apply to pork from the European Union.


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