Japan may impose safeguard tariffs on imports of U.S. beef since the fiscal 2020 volume is expected to have gone above 242,000 metric tons with fresh trade data due to be released Wednesday, according to Japanese media reports.
The tariff would rise to 38.5% for one month from a current mark of 25.8%. The action would trigger consultations between the two countries within 10 days of the tariff being imposed, with reports signaling those consultations would be to adjust the applicable safeguard trigger to a higher level.
Data for Japan's fiscal 2020 (began April 2020) had U.S. beef imports at 233,112 metric tons at the end of February.
While not commenting on whether the tariffs would be implemented, Ag Minister Kotaro Nogami said any rise in fresh, chilled and frozen U.S. beef will “not likely have a major impact on consumers,” noting that any increase would only be in effect for 30 days.
The last time Japan imposed the safeguard tariffs on U.S. beef was in August 2017.