By now you’ve heard the United States and Japan have reached a new agreement on trade. That news is coupled with the Trump Administration’s progress with China that was announced earlier this week at the G-7 Summit in France.
The Japanese deal could increase overall US ag exports by more than $7 billion, with much of the growth coming in the beef and pork markets.
Scarlett Hagins is the Communications Program Manager for the Kansas Livestock Association, and she says the deal is a win for Kansas Beef Producers.
“ The bottom line is this increases our access to the Japanese market. Japan is our top market for U.S. beef,” Hagins said. “Last year we exported about $2 billion, so this agreement will then increase that access, which is great news for Kansas beef producers. We know that Japanese consumers like our high-quality beef and so we want to be able to provide that to them. This agreement will allow us to do that.”
The agreement is also expected to lower considerably the tariffs on US beef to Japan, which currently stand at 38-and-a-half percent.