Japanese imports of Canadian beef have surged since a new trade deal began on December 30, traders say, in an early sign of the price US producers could pay for protectionist policy.
Although official data are not yet available, traders say there has been a jump in beef imports to Japan from participants in the eleven-member Trans-Pacific Partnership, with Canada a particular beneficiary.
The shift in Japanese beef imports shows the immediate consequences of US president Donald Trump’s decision to withdraw from TPP. It will increase the urgency of negotiations on a separate US-Japan trade agreement in goods.
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