PIXABAY
It is still too early to assess the total impact the U.S.-Japan Trade Agreement has had on Japan's imports of U.S. beef and wheat.
Market watchers do see a positive impact from the trade deal, in effect since January of last year, but point out the COVID-19 pandemic has complicated matters, reports the Capital Press.
The trade pact alleviated the higher mark-up disadvantage on U.S. wheat. The commodity only suffered a minimal loss of market share, however, during the one year when wheat from Canada and Australia had an advantage through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.
Since the U.S.-Japan trade agreement went into effect, the markup on wheat from the U.S., Australia and Canada has been the same.