Japan trade agreement would be boon for US Animal Feed Industry
Following President Donald Trump's recent action of sending to Congress his intent for the US to ratify a free trade agreement with Japan in the coming weeks, the American Feed Industry Association's (AFIA) President and CEO Joel G Newman made the following statement:
'AFIA is pleased the administration has reached an initial trade agreement on tariff barriers with Japan and intends to enter into the agreement in the coming weeks. We are hopeful this agreement will show progress in bringing the US animal food industry closer to the level of tariff treatment Japan affords our competitors in the recently implemented Comprehensive and Progressive Agreement for Trans-Pacific Partnership. We are eager to review the final text and for further developments in the subsequent bilateral negotiations with Japan.'
Japan represents the Unites States' third largest export market behind Canada and Mexico for feed, feed ingredients and pet food products at a value of US $986 million in 2018. By eliminating existing barriers and levelling the playing field, a US-Japan trade agreement will allow America's animal food and ingredient manufacturers greater access into this market place.