Ja­pan beefs up US tar­iffs

Townsville Bulletin - - NEWS -

JA­PAN is slap­ping emer­gency tar­iffs of 50 per cent on im­ports of frozen US beef af­ter ship­ments surged.

Fi­nance Min­is­ter Taro Aso an­nounced the move yes­ter­day, say­ing he was pre­pared to ex­plain it to the US side.

Un­der World Trade Or­gan­i­sa­tion rules, Ja­pan can in­tro­duce such safe­guard tar­iffs when im­ports rise more than 17 per cent year- on- year in any given quar­ter. Beef im­ports have risen quickly as prices fell as the US live­stock sec­tor re­cov­ered from drought.

But the US also faces stiff com­pe­ti­tion from Aus­tralia, whose free trade agree­ment with Ja­pan means it does not face the same emer­gency tar­iffs.

The Fi­nance Min­istry said 89,253 met­ric tons of frozen beef were im­ported so far this year.

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