A New Day Dawning on Trade Talks with the Land of the Rising Sun? NCBAs Kent Bacus Thinks SoThu, 02 Aug 2018 10:43:04 CDT
Radio Oklahoma Ag Network Farm Director Ron Hays is in Denver this week covering the 2018 Cattle Industry Business Meeting. One of the topics dominating discussions there is of course trade. Hays caught up with Kent Bacus, director of international trade and market access for the National Cattlemen’s Beef Association’s DC office, who shared his knowledge of rumors currently circulating about the possibility that the US and Japan might be considering some bilateral trade agreement talks.
“We’re hearing reports there are going to be bilateral trade talks between the US and Japan. Obviously, for us, that is a top priority because Japan is our biggest export market,” Bacus said, remarking also on the potential gains now lost not being a part of the Trans-Pacific Partnership. “The fact that they’re actually going to sit down and have a meeting is a step in the right direction and we strongly support that - and we need that as soon as possible.”
Whether these talks result in the US rejoining the TPP or negotiating a bilateral agreement of its own is anyone’s guess. But, Bacus says there is still a short window in which the US could rejoin if the Administration wanted, as the agreement hasn’t yet been officially ratified by participating nations. Bacus says, though, we have only a matter of a few months to make that happen. After that point, he says the US beef industry will be at a significant tariff disadvantage to some of our largest competitors in this market - Australia for example.
“It’s important we remain competitive in the Japanese market. These talks are a great first step, but we need a real tangible result in the next few months,” he said. “Otherwise, it’s going to be hard for us to move forward if we don’t know for certain we have sustainable access to our leading export market.”
Listen to NCBA’s Kent Bacus and Ron Hays discuss the possibility of trade talks between the US and Japan, on today’s Beef Buzz.
The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.
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