TOKYO, Nov. 25 — The Japanese government has adopted a revised policy package to help dairy and livestock farmers adjust to increased agricultural food imports entering Japan under new trade deals.
That move comes as Tokyo and Brussels aim to complete the Japan-EU Economic Partnership Agreement (EPA) by the end of the year.
The government now needs to get Diet approval for financing with a supplementary budget for fiscal 2017.
All cabinet members approved the revised package at a Nov. 24 meeting of the consolidated headquarters that facilitate Japan’s early entry into trade agreements.
It includes the Japan-EU EPA as well as the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).
They also decided to implement a measure to raise the coverage of livestock farmers’ losses from 80 percent to 90 percent, only after the CPTPP or the Japan-EU EPA takes effect.
The package was originally formulated when the original TPP members, including the United States, reached a trade agreement in 2015.
The revised package includes new support programs aimed at helping farmers cope with agricultural products that are import-sensitive in the deal with the EU, such as pork, cheese and lumber.