Montana Farm Bureau is applauding the trade deal between the United States and Japan that will further open markets for both countries. Agriculture is among the biggest beneficiaries.
“Every farmer in Montana understands the importance of trade and with the trade agreement leveling the playing field and opening up more markets, it’s beneficial for all Montana farmers and ranchers,” said MFBF President Hans McPherson. “In Montana we produce the world’s best wheat, and Japan loves it.”
Japan is American agriculture’s fourth-largest export destination and vital to the livelihood of hundreds of thousands of farms and the families who live on them. The U.S. exports nearly $13 billion a year in agricultural products to Japan.
Under the agreement, Japan will place the same level of agricultural tariffs on U.S. goods as it places on CPTPP countries and the EU. By way of example, the 38.5% tariff on U.S. beef will fall to the 26%--the same placed on beef from Australia, Canada and the EU. Some other foods such as duck, geese, turkey, peaches, melons and more would enter duty-free.
“This is a trade win, because as Japan imports more beef, Montana ranchers will benefit,” McPherson noted. “We want to thanks Secretary of Agriculture Sonny Purdue and U.S. Trade Representative Robert Lighthizer for their efforts.”
More information can at fb.org/market-intel/japan-u.s.-agriculture-agreement-could-help-u.s.-catch-up-to-global-competi.