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International relations

Japan to grant lower tariff on 90% of US beef imports

Duties would fall to TPP levels if Washington signs a trade deal this year

Japan plans a gradual reduction in tariffs on about 90% of current beef imports from the U.S.   © Reuters

TOKYO -- Japan will permit low import tariffs on about 240,000 tons of American beef as part of the trade negotiations with the U.S., hoping to ink a deal by the end of September, Nikkei has learned.

The quota covers roughly 90% of the amount of American beef that Japan currently imports. Those shipments now face a 38.5% tariff, but the rate would fall gradually to 9% by fiscal 2033. The quota itself eventually would rise to 290,000 tons.

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