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IPFS News Link • Economy - Economics USA

"Imminent Collapse": US Farmers Prepare For Massive Losses In Japan

• https://www.zerohedge.com, By Tyler Durden

President Trump had removed the US from the TPP last year, alleging it would have crippled American manufacturers by minimizing duties on US imports of automobiles.

Tokyo will slash duties to other countries on Feb 1 by implementing the European Union-Japan Economic Partnership Agreement (EPA) that would offer the 28-country bloc's agricultural products to Japan, a move that could dramatically reduce US market share into the island nation in the Pacific Ocean. 

Japan, unlike China, is not playing the retaliatory tariff game with the Trump administration. Instead, they are accelerating a market-opening agenda with more than three dozen countries (ex. the US). 

The new free trade push by Japan "threatens to cut into US market share and depress profits for US agriculture exporters by granting preferential access to…internal competitors," a May report by the Agriculture Departments warned.


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