Japan, the world’s largest pork importer will lower its tariffs on pork imported from Australia as part of a bilateral trade agreement that reduces tariffs on Australian beef. The tariff will drop from 4.3% to 2.2% with a quota that limits volume imported to 6,700 metric tons in the first year and increases to 16,700 tons within five years. In the 12 months to March 3, 2013, Australian pork imports to Japan were approximately 700 tons. The move is being seen as being designed to push the U.S. to soften its stance in negotiations with Japan over the Trans Pacific Partnership. Japan imported 738,455 tons of pork worth US$3.8 billion in 2013 of which 38% came from the U.S., the world’s biggest exporter. The trade accord between Japan and Australia is expected to take effect next year.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service