TPP fishery impact to be ‘limited,’ for now: farm ministry
The Japan Times | 31 October 2015
TPP fishery impact to be ‘limited,’ for now: farm ministry
The impact on fishery products from the Trans-Pacific Partnership Agreement is likely to be “limited,” although tariffs are set to be axed for most of the 300 or so items listed in the free trade pact, it has been learned.
Still, the Agriculture, Forestry and Fisheries Ministry believes it necessary to come up with measures to bolster the productivity of Japan’s fisheries industry because the TPP could lead to price drops for domestic products in the long term.
Such items as mackerel, horse mackerel and tuna are likely to be little affected, partly because imports from other TPP participants are being limited, the ministry said Friday.
The farm ministry is set to report the results of its TPP impact analysis to a ruling Liberal Democratic Party panel on Wednesday.
For edible seaweed, which will retain tariffs, no major impact is expected since imports from China and South Korea, who are not the TPP, account for a large portion of Japan’s overall seaweed imports.
For bonito and other fish used in processed foods, as well as yellowfin tuna and sockeye salmon, the ministry is concerned domestic products could face tough competition from imports. Tariffs on these fish are set to be scrapped once the TPP takes effect.
Japan, the United States and 10 other countries struck a broad accord on the giant trade pact at a meeting in early October.
In the livestock sector, the ministry doesn’t expect imports of beef and pork to rise sharply for the time being because the tariff reductions will be implemented over a relatively long period and Japan would be allowed to take safeguard measures if imports suddenly surge.
But the ministry believes the livestock industry should try to cut costs and take other measures to reinforce its financial conditions in preparation for potential price drops in the future.
