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Japan may ratchet beef tariffs to 50 per cent
22 Oct 2004
Japan is considering reintroduction of a so-called "snapback provision", under which the tariff on imported beef would increase from 38.5 per cent to 50 per cent if import levels rise by more than 17 per cent over any one year period. Discussion over tariffs has re-emerged as Japanese and US trade officials negotiate terms for the resumption of US beef imports. The temporary ban on US beef has provided a huge windfall for Australia's cattle industry. In the first eight months of 2004, Australian beef exports to Japan increased by 60 per cent to $1.44 billion. Australia's share of Japanese beef imports climbed from less than half to more than 90 per cent.
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