Japan set to curb U.S. beef imports with higher tariff

Japan is set to impose an emergency tariff hike on U.S. beef imports later this week as the volume for fiscal 2020 is believed to have topped 242,000 metric tons, beyond which safeguard measures are implemented, government sources said Tuesday. If invoked, the tariff will jump from 25.8 percent to 38.5 percent for a month under a bilateral trade agreement that came into effect in January 2020. The resulting increases in prices for fresh, chilled and frozen U.S. beef will “not likely have a major impact on consumers,” Japan’s agriculture minister Kotaro Nogami told a press conference Tuesday, c…

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HEDGE accordingly