TOKYO – Japan is temporarily raising tariffs on U.S. beef imports as volumes have exceeded levels agreed to between the two nations for the fiscal year ending on March 31, Japan’s agriculture ministry said on Wednesday.
From Thursday, the tariff will rise to 38.5% from 25.8% for 30 days through April 16, marking the first time the safeguard measure has been imposed on U.S. beef imports since August 2017.
Japan imported a total of 242,229 tonnes of U.S. beef by early March, exceeding the maximum 242,000 tonnes set under the Japan-.U.S. trade agreement for the current fiscal year, the ministry said.
To read the rest of the story, please go to: Reuters