Canadian pork exports to Japan are closing in on those of the United States as homegrown producers race to take advantage of a new Asia-Pacific trade deal abandoned by the U.S. in 2017.
One of U.S. President Donald Trump’s first moves following his inauguration in 2017 was to withdraw from the Trans-Pacific Partnership — the signature trade policy of former president Barack Obama. Representing about 40 per cent of the world economy, supporters of the now-defunct TPP had hoped it would create a bloc to counter China’s economic might in the region.
Rising Canadian beef exports have taken an early spotlight, tripling to 3,545 tonnes in January 2019, according to Japanese import data, as tariffs fell to an initial 27.5 per cent from the standard rate of 38.5 per cent. Companies such as Quebec-based Olymel LP have been retooling operations to produce the higher-value chilled pork favoured by Japanese consumers, Lavoie said, adding that Costco Wholesale Corp.’s 26 stores in Japan have now switched to 100-per-cent Canadian chilled pork.
Nevertheless, Canadian Prime Minister Justin Trudeau and Japanese Prime Minister Shinzo Abe touted the benefits of the deal last week, with Trudeau noting that Canadian beef exporters had enjoyed a surge in shipments to Japan, “while the Americans do not have that kind of access.” The deal, he said, stood in “stark contrast” to rising protectionism in the U.S.
More good news .
In return, can we get some cheaper Japanese snacks? 7 bucks for a pack of green tea Kitkat is killing me. Not to mention the other more fancy flavours.
Thx Trudeau