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FAS Releases Fact Sheets Highlighting TPP Benefits

Thursday, October 15, 2015

(North American Meat Institute)

The Foreign Agricultural Service (FAS) released a series of interactive fact sheets detailing the benefits of the Trans-Pacific Partnership (TPP) for the U.S. economy and the agriculture industry. The fact sheets underscore the benefits for all 50 states and several agricultural products, including beef, pork and poultry. Under TPP, Japan’s beef tariff will be reduced to nine percent and the country will cut tariffs on 77 percent of fresh, chilled and frozen beef tariff lines. Vietnam will eliminate tariffs on beef, which are as high as 34 percent, in three to eight years, while Malaysia will lock in all tariffs at zero percent. Meanwhile, Japan will reduce duties on nearly 80 percent of tariff lines related to pork within 16 years. Vietnam also will eliminate tariffs on pork products within five to 10 years and Malaysia will end all tariffs within 15 years.

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