CPTPP Enters into Force; Report Highlights Changes to Japanese Beef MarketFriday, January 4, 2019
(North American Meat Institute)
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) entered into force December 30, 2018. The CPTPP’s 11 member countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. President Donald Trump withdrew the U.S. from the CPTPP’s predecessor, the Trans-Pacific Partnership agreement, in January 2017.
Under the CPTPP, Japan’s tariffs on chilled and frozen beef will gradually decrease to nine percent over 15 years. Effective December 30, Japan lowered the tariff on chilled and frozen beef imported from CPTPP countries from the most-favored nation rate of 38.5 percent to 27.5 percent. Japan also revised the special safeguard (SSG) mechanism for countries with which it does not have a free trade agreement, making the U.S. the only major beef supplier to Japan subject to the SSG. In addition, Japan moved to increase support for domestic beef producers under the country’s Beef Livestock Stabilization Program, also known as Marukin. A report detailing changes implemented to the Japanese beef market following CPTPP entry into force is available here .share on facebook share on twitter