Trans-Pacific tariffs start to fall

Trans-Pacific tariffs start to fall
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The first round of tariff cuts under the Trans-Pacific Partnership came into effect Dec. 30, with the prohibitive Japanese tariff of 38.5 per cent dropping to 27.5 per cent on Canadian fresh beef and to 26.9 per cent on frozen beef.

A second round of cuts saw Vietnamese tariffs fall on Jan. 14, and will be followed by further tariff reductions in Japan on April 1 to 26.6 per cent on both fresh and frozen beef.

Japan’s tariffs will ultimately fall to nine per cent by 2033. Canadian beef will also be exempt from the Japanese safeguard tariff of 50 per cent on frozen beef.

Japanese tariffs on wheat and canola will also fall, as will Vietnamese tariffs on pork.

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