The North American Meat Institute (Meat Institute) said that today’s U.S.-Japan deal to increase the beef safeguard trigger level under the U.S.-Japan Trade Agreement will increase the American beef industry’s ability to meet Japan’s growing demand for U.S. beef.
“The Meat Institute welcomes this agreement that will help the U.S. beef industry earn greater market access to Japan,” said Meat Institute President and CEO Julie Anna Potts. “The Meat Institute thanks the Biden Administration for their dedicated work securing this deal.”
In addition to increasing market growth for U.S. beef into Japan, the new three-trigger safeguard mechanism will decrease the likelihood that Japan will impose higher tariffs on U.S. beef.
In 2021, Japan was the United States’ largest beef volume market (320,738 metric tons) and second largest value destination (more than $2.3B).
The agreement’s three-trigger mechanism – whereby all three triggers must be hit for Japan to implement the safeguard and impose a higher tariff – are:
- Imports from the United States must exceed the original beef safeguard trigger level under the U.S.-Japan Trade Agreement;
- The aggregate volume of beef imports from the United States and the original signatories of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) must exceed the CPTPP beef safeguard; and
- Imports from the United States must exceed the total amount of beef imports from the United States during the previous year.
More details are available in the U.S. Trade Representative’s press release.
About the North American Meat Institute: The North American Meat Institute is a leading voice for the meat and poultry industry. The Meat Institute’s members process the vast majority of U.S. beef, pork, lamb, and poultry, as well as manufactures the equipment and ingredients needed to produce safe, high quality meat and poultry products.
