AFBF commends US/Japan ag deal
American Farm Bureau President Zippy Duvall says the signing of the U.S. and Japan agreement is a positive step for U.S. farmers and ranchers.
It will lower agricultural tariffs on U.S. goods to the level in place on CPTPP countries and the E.U.
Farm Bureau economist Veronica Nigh tells Brownfield Ag News that Japanese tariffs range from a high of 38-and-a-half percent on U.S. beef to zero tariffs on some other ag products. She tells Brownfield, “The average ag tariff in Japan is 17.3%.” Japan’s tariff on U.S. beef will fall to 26%.
Nigh says the “mini” agreement will not need congressional approval but will take a while to take effect, “As long as the trade agreement would go into effect by March 31st of 2020 we would be on an equal tariff footing as our competitors.” Japan’s fiscal year begins April first.
Hear our interview with Veronica Nigh, just a few hours before the deal was signed (below).