Despite New Tariffs on Beef, China Far From Closing Trade Door
Australia has been reminded that China isn't always a reliable trading partner. Chinese authorities recently announced new trade restrictions to protect the country's beef industry. Effective from January 1 and extending to the end of 2028, countries such as Australia will be allocated an annual quota. Any beef exports to China beyond this volume will be slugged with a 55 per cent tariff.
These restrictions do not single Australia out in the way that previous Chinese trade restrictions did when relations soured in 2020. Nonetheless, the local beef industry quickly responded that it was "extremely disappointed". The Australian government also said it had "serious concerns" and that Australia's status...
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