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Agriculture

Japan's farms face up to $1bn hit from US trade deal

Impact lighter than under former TPP terms: government report

Cattle in Hokkaido: Beef production may decline by as much as 47 billion yen as a result of expanded American imports.   © Reuters

TOKYO -- Japanese agricultural production will decline 60 billion to 110 billion yen ($552 million to $1.01 billion) under the bilateral trade deal with the U.S., the government told a ruling party assembly Friday.

The estimates cover agricultural, forestry and marine products. Beef takes the biggest hit from expanded American imports, with production declining as much as 47.4 billion yen, followed by dairy products at up to 24.6 billion yen and pork by as much as 21.7 billion yen. The two sides aim to have the deal take effect in January.

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