U.S. exporters have definitely been disadvantaged this year due to the U.S. not being part of the trade deal inked late last year.

Heather Jones, founder and senior equity analyst at Heather Jones Research, referring to U.S. beef exporters who stand to sell more meat in Japan after the two sides cut a deal to slice into tariffs. But agriculture experts say that for now, that boost may be lean: exports of U.S. beef to Japan are already high enough to be close to a “safeguard” level at which higher tariffs kick in.

© Thomson Reuters