U.S. Meat Export Federation. 2018. Estimated losses of the U.S. beef industry due to Japan`s implementation of preferential trade agreements with major U.S. competitors. Denver, CO: U.S. Meat Export Federation. Available online: www.usmef.org/downloads/Japan-competitive-disadvantages-for-U.S.-beef-summary-FINAL.pdf. Jennifer Houston, president of the National Cattlemen`s Beef Association, added: “There`s just no other way to say it: it`s a huge victory and a great day for beef producers and Japanese consumers. Japan is the largest exporter of U.S. beef and, for many years, one of NCBA`s top priorities has been to eliminate tariff and non-tariff barriers that have prevented U.S.
beef producers from meeting Japanese consumer demand for safe, quality U.S. beef. This agreement opens the conditions of competition and opens the door to American beef producers to meet the demand of Japanese consumers. The NCBA has strongly supported President Trump`s initiative for a bilateral trade agreement with Japan, and we look forward to seizing this opportunity in 2020. As the world`s largest producer and consumer of beef, accounting for 20% of world production and about 21% of global consumption (Ministry of Agriculture, 2019th), the United States plays a crucial role in the global beef market. Beef production is one of the largest agricultural industries in the United States and accounted for $67.1 billion in cash receipts in 2018, or about 18% of total cash receipts generated by agricultural raw materials this year (U.S. Department of Agriculture, 2018). In 2019, the United States produced a record 12.3 million tons of beef (U.S.
Department of Agriculture, 2019th). The United States produces mainly high-quality, grain-fed, domestically and export-based beef, and is the fourth largest beef exporter after Brazil, Australia and India (U.S. Department of Agriculture, 2019th). Typically, the United States is a net importer of beef, with Canada, Australia and New Zealand its top three suppliers. However, the United States was a net exporter of beef between 2010 and 2013 and 2018 and 2019. Japan, South Korea, Mexico, Hong Kong and Canada were the top five U.S. export markets through December 19, 2019 (Figure 1). These markets accounted for 79.6% of total exports by volume; Japan, the largest buyer of U.S. beef, accounted for 26.4% of this share (U.S. Meat Export Federation, 2019b). Once implemented, the agreement will restore the terms of beef and pork in the United States to Japan and reduce tariffs at the same rates as those currently paid by suppliers of the Global and Progressive Partnership (CPTPP) and the European Union under their respective agreements.