Sign up: AU Breaking News email<\/a><\/p>\n\u201cWe welcome the removal of tariffs on Australia\u2019s world-class agricultural exports, including beef,\u201d he said.<\/p>\n
\u201cWe maintain our position that tariffs on any Australian products are unjustified, and continue to advocate for their removal.\u201d<\/p>\n
Angus Gidley-Baird, a senior analyst at Rabobank, noted the tariffs have given Australian producers an advantage over countries who also export a significant amount of beef to the US but have been subjected to much higher duties, such as Brazil.<\/p>\n
Nevertheless, Gidley-Baird said Australian beef producers wouldn\u2019t see too much of a change in demand, at least in the short term, because the US market \u201cis so strong and their local production is so slow\u201d after drought conditions in 2022 and 2023.<\/p>\n
\u201cFor us the bigger question is the longer term \u2013 if the tariffs [are reintroduced] and the US rebuilds its herd and its production,\u201d he said.<\/p>\n
Richard Holden, a scientia professor of economics at the University New South Wales business school, said people weren\u2019t wrong to observe that if other countries were hit with higher tariffs it \u201cmight be relatively better\u201d for Australia.<\/p>\n
\u201cBut we\u2019ve seen that the Trump administration\u2019s tariffs have really shrunk the overall global trading system that\u2019s served all countries, particularly Australia, so well,\u201d he said.<\/p>\n
\u201cSo anything that pushes back towards where we were in terms of free trade is really good for everyone, Australia included.\u201d<\/p>\n
In 2024, the US was the fifth largest destination for Australian goods, with $23.8bn of exports, and the second largest trading partner for imports, with $50.5bn of products received.<\/p>\n
Jenny Gordon, an honorary professor at the ANU and a former chief economist at the Department of Foreign Affairs and Trade, said because Australia was in a trade deficit with the US, the tariffs didn\u2019t have a large direct effect on the local economy.<\/p>\n
\u201cWhat we\u2019re more concerned about is that indirect effect on our economy,\u201d she said. \u201cAnything that\u2019s in that right direction, we\u2019re grateful for.\u201d<\/p>\n
Gordon pointed to the recent sweep of Democratic party victories in state and local elections as evidence US voters were \u201crealising [Trump\u2019s] tariff policy is not driving down the cost of living\u201d.<\/p>\n
John Quiggin, a professor of economics at the University of Queensland, said the Australian beef industry had probably benefited on balance from the tariffs because they were lower than those imposed on other major exporters.<\/p>\n
\u201cBut it\u2019s better not to have an administration that just uses tariffs more or less randomly as public policy,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"The Australian government has welcomed the Trump administration\u2019s removal of tariffs on beef and other agricultural exports to…\n","protected":false},"author":2,"featured_media":285527,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[43,44,41,39,42,40],"class_list":{"0":"post-285526","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-headlines","8":"tag-headlines","9":"tag-news","10":"tag-top-news","11":"tag-top-stories","12":"tag-topnews","13":"tag-topstories"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/285526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=285526"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/285526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/285527"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=285526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=285526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=285526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}