Japan: U.S. beef to impose urgent import restrictions Import volume exceeds standard

There is an increasing likelihood that safeguards (emergency import restrictions) will be invoked on American beef. If activated, it will be the first time in about three and a half years. In the import of American beef, a mechanism called safeguard has been introduced to protect the domestic livestock industry and raise tariffs when the import volume exceeds the standard. Australia is expected to exceed the standard by the end of this month as beef production has been reduced due to the drought and US beef imports have increased as tariffs have fallen since the US-Japan trade agreement came into effect last year. If triggered, tariffs will increase from 25.8% to 38.5%, but the impact on consumers will be limited as the period is limited to 30 days.