With a Trade Deal in the Bag, NCBA’s Kent Bacus Says Nothing Stands in the Way of US Beef’s Domination in Japan
Oklahoma Farm Report
08 Oct 2019
On Monday, the US and Japan signed the trade agreement announced last week by President Donald Trump and Prime Minister Shinzo Abe. Kent Bacus, director of international trade and market access for the National Cattlemen’s Beef Association, says this development is tremendous news for the US beef industry.
“This was an important step forward in our relationship with the Japanese,” he said. “Even though we do a lot of business with the Japanese, we don’t have any rules that are specific to the US and Japan.”
Bacus explains that for the beef industry specifically, the terms of this agreement puts US beef on par with its international competitors in the Japanese marketplace. With the prospect of this agreement taking affect as soon as January 1, 2020, US beef will sooner rather than later enjoy a tariff reduction from 38.5% down to the same level as those members of the CPTPP agreement which the US had opted out of upon President Trump’s election. Bacus says that while quality is very important to Japanese consumers, price is also an important factor to them. With a level playing field, he says the US will have no match...
more, including audio [5:38 min.]