America Farmer May Lose Second Largest Customer In Asia

After a sharp drop in exports to China, US farmers and farmers are expected to suffer more losses in Japan, Asia's second-largest export market. Under the two new trade agreements, Japan will cut tariffs on agricultural products in some of the US rival countries and relax quota restrictions.

According to the "Wall Street Journal" reported on December 26, starting from December 30, Japan will cut tariffs on imported agricultural products from Canada, Australia, New Zealand and Chile and relax quota restrictions, which is a new signing of 11 countries. Part of the Pacific Partnership's Comprehensive and Progressive Agreement (CPTPP), which is the most powerful competitor of US agriculture. On February 1 next year, Japan will have further actions. At that time, the EU-Japan Economic Partnership Agreement will enter into force. Japan will provide similar tariffs and quotas for imported agricultural products from the EU, which will benefit France, Spain and Italy. And farmers in the Netherlands.

According to the report, unlike China, Japan does not keep US products out of the Trump administration's tariff actions. Instead, it is working with more than 30 countries around the world (but not the US) to accelerate an ambitious market opening agenda. . These countries act in unison to demonstrate to the skeptical Washington the benefits of free trade and the cost of avoiding free trade. In a May report, the US Department of Agriculture said that Japan’s new free trade initiative granted preferential priority to international competitors, which could weaken US market share and squeeze profits from US agricultural exporters.