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Beef Safeguard Proposed:
This week MAFF set the level of beef imports in 2007 that would trigger
additional duties under Japan's 'beef safeguard' the same safeguard level
that was established for 2006. This means that additional duties will not
be levied unless beef imports in Japan fiscal year 2007 exceed an average
of 2002-2003 levels or 117% of the most recent year's trade data, whichever
is higher. Japan's beef safeguard was negotiated during the Uruguay Round
to afford protection to domestic producers in the event of an import surge.
If triggered, beef tariffs will rise to 50% (from 38.5%) for the entire
fiscal year. . (12/22/06) |
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