|Photo Source, Yomiuri|
Japanese consumers will benefit tremendously if U.S. beef and pork tariffs are lowered as a result of a Trans-Pacific Partnership free trade agreement.
Japan imported 130,000 tons of beef and 300,000 tons of pork from the United States in fiscal 2012. According to Agriculture and Livestock Industries Corp., an independent administrative institution, U.S. beef shoulder was sold at ¥221 per 100 grams on national average at retailers in March. If the tariff on beef is lowered from 38.5 percent to 9 percent, the corresponding price will drop to ¥173. Lower tariffs on beef and pork will also likely have positive effects on employment.