USMEF Analyzes Estimated Losses to U.S. Beef and Pork Industries from Japanese Trade AgreementsMonday, August 6, 2018
(North American Meat Institute)
The U.S. Meat Export Federation (USMEF) published a white paper detailing estimated losses to the U.S. beef and pork industries resulting from Japan's implementation of preferential trade agreements with major U.S. competitors. USMEF reviewed tariff disadvantages and lost opportunities facing U.S. beef and pork imports to Japan as a result of several free trade agreements to which the U.S. is not a party: the Japan-Australia Economic Partnership Agreement, the Comprehensive and Progressive Trans-Pacific Partnership and the Japan-European Union Economic Partnership Agreement.
Specifically, USMEF projects U.S. beef export losses will reach $550 million by 2023 and exceed $1.2 billion by 2028, leading the U.S. share of Japan's growing beef imports to decline from the current level of 43 percent to 30 percent by 2028. Annual U.S. pork export losses to Japan are expected to exceed $600 million by 2023 and $1.02 billion by 2028. When calculated on a per-head basis, U.S. pork export losses are estimated to reach $4.55 by 2023 and $7.06 by 2028.
Japan is the largest export market for U.S. beef and the leading value destination for U.S. pork.share on facebook share on twitter