class="post-template-default single single-post postid-343009 single-format-standard group-blog masthead-fixed full-width singular wpb-js-composer js-comp-ver-5.5.2 vc_responsive"
BCD: Japan-EU Trade Deal to Increase Market Competition | KRVN Radio

BCD: Japan-EU Trade Deal to Increase Market Competition

BCD: Japan-EU Trade Deal to Increase Market Competition

A trade agreement between the European Union and Japan will increase competition for the United States. Japan’s conclusion of the trade agreement, and efforts to complete the Comprehensive and Progressive Trans-Pacific Partnership, will increase competition in Japan for U.S. oilseed and vegetable products, according to the Department of Agriculture Foreign Agricultural Service.

The two agreements contain tariff concessions for a range of oilseeds and other products that, with current trade rules, pose a disadvantage for U.S. products. The Hagstrom Report points out that the Japan-EU agreement could enter into force as early as 2019, while CPTPP member states are undertaking domestic procedures to ratify the agreement.

Last year, Japan imported $3 billion worth of oilseeds, 37 percent coming from the United States, worth $1.15 billion. Japan also imported $1.5 billion in vegetable oil and animal fat products, of which 3.2 percent, or approximately $48 million were from the United States.

© 2018 Nebraska Rural Radio Association. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information
Share:
Comments