Japanese imports of Canadian beef have surged since a new trade deal began on December 30, traders say, in an early sign of the price US producers could pay for protectionist policy.
One immediate consequence [for the US] of TPP was to cut Japanese tariffs on imports of chilled beef from the standard rate of 38.5 per cent to an initial level of 27.5 per cent. That gives Australian, Canadian and New Zealand exporters an 11 percentage point advantage over US producers in the Japanese market.