Australia’s beef exports to China are set to face an additional 55% tariff after reaching Beijing’s annual import quota. Multiple reports say the higher duty takes effect starting this weekend or “in the coming days,” depending on timing for implementation. The tariff is described as a response by China to protect domestic producers once the quota allocated for lower-tariff access is used up. As a result, Australian shipments sent after the quota limit is met are subject to the extra tariff, which can change the economics of exporting to China. Bloomberg also notes that the development could affect trade flows and lead producers to look for alternative markets for red meat. The reports frame the tariff as quota-driven rather than a standalone dispute, tying the increase directly to the quota reaching its annual cap set by Chinese authorities.
Australia faces 55% China tariff on beef after annual export quota reached
Australia’s beef exports to China are set to face an additional 55% tariff after reaching Beijing’s annual import quota. Multiple reports say the higher duty takes effect starting this weekend or “in...
- China imposes an additional 55% tariff on Australian beef shipments after the annual quota limit is reached.
- The increased tariff is set to start this weekend or within the coming days.
- The quota trigger relates to Beijing’s annual import limit for lower-tariff access.
- The change could affect Australian beef export trade flows.
- Producers may seek alternative markets for red meat if costs rise for China-bound shipments.
China is set to slap a 55 per cent tariff on Australian beef in the coming days, as the second largest economy looks to protect its local farmers.
2 months agoAustralian beef exports to China will face an additional 55% tariff starting this weekend after hitting Beijing’s annual quota limit, which could impact trade flows and prompt producers to seek new markets for red meat.
2 months agoCommercial childcare operators face losses, closures and falling revenue
Commercial childcare providers are under strain as losses mount and some centres close, alongside falling revenue that t...
Nippon Life Says It Is Open to Becoming a Net JGB Buyer Next Fiscal Year
Japan’s largest life insurer, Nippon Life Insurance Co., says it is open to becoming a net buyer of Japanese government...
Tempsens Instruments IPO GMP points to 100%+ listing gain ahead of Aug. 28 debut
Tempsens Instruments’ initial public offering is set to list on Friday, Aug. 28, with multiple outlets reporting strong...