TOKYO: A Japan-US trade agreement that will go into effect on Jan 1,2020, will benefit Japanese consumers, partly because Japan’s tariffs on beef will be lowered. On the other hand, domestic livestock farmers will face intense competition due to imported products.
Tariffs on US beef imports, which currently stand at 38.5%, will be lowered to 26.5% when the pact goes into effect, making import prices cheaper.
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