Japan Press: Japan to hike tariffs on frozen beef imports from US, others

Dhwani Mehta FXStreet

Reuters reporting a commentary from the Japanese local media on Thursday, citing that Japan will raise tariffs on frozen beef imports from the US and some other countries to protect domestic producers against a surge in imports.

Sources said tariffs on frozen beef will jump to 50% from the current 38.5% between Aug. 1 and the end of March as a 'safeguard' mechanism for domestic farmers is to be triggered for the first time in 14 years.

The move comes as the US President Donald Trump is trying to expand exports of U.S. products to Japan, Reuters reports.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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