Japan funds for farmers to offset trade pacts underused for 5 years

Published by
Kyodo News

Japanese government subsidies for agriculture and other industries affected by major free trade pacts, such as the Trans-Pacific Partnership, were underutilized for five years from the start of the initiative in fiscal 2016, according to government data. The government had allocated a budget of over 2 trillion yen ($16.4 billion) to support the agriculture, forestry, and fisheries sectors from fiscal 2015 to fiscal 2021, exposed to competition from foreign rivals under new trade deals. According to the Ministry of Agriculture, Forestry and Fisheries, the funds were underutilized due to the acc…

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