Australian beef will soon be subject to an additional 55 per cent import duty in China, with shipments of the meat about to surpass an annual quota set by Beijing, China\u2019s Ministry of Commerce confirmed on Tuesday.<\/p>\n
Imports of Australian beef have already reached 90 per cent of this year\u2019s quota, meaning that a tariff adjustment will soon be triggered, the ministry announced via an alert.<\/p>\n
The policy sets an annual quota for beef imported from a string of countries \u2013 including Australia, Argentina, Brazil, New Zealand, Uruguay and the United States \u2013 with a 55 per cent levy kicking in once the quota is reached.<\/p>\n
Under the system, 205,000 tonnes of Australian beef could be imported to China with low tariffs in 2026. Chinese authorities will begin charging the 55 per cent duty three days after the threshold is passed, the ministry said.<\/p>\n
China\u2019s beef industry has been hit by a downturn in demand in recent years, as falling import prices erode domestic producers\u2019 cost advantages and dampen processors\u2019 appetite for local meat, according to a report released by market information provider Sublime China Information (SCI) last week.<\/p>\n","protected":false},"excerpt":{"rendered":"Australian beef will soon be subject to an additional 55 per cent import duty in China, with shipments…\n","protected":false},"author":2,"featured_media":479158,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[3858,986,206574,2102,1347,72,114,26089,969,113,61,60,1261,206573,115,29133],"class_list":["post-479157","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-argentina","tag-australia","tag-australian-beef","tag-beijing","tag-brazil","tag-business","tag-china","tag-chinas-ministry-of-commerce","tag-donald-trump","tag-economy","tag-ie","tag-ireland","tag-new-zealand","tag-sublime-china-information","tag-united-states","tag-uruguay"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/479157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=479157"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/479157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/479158"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=479157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=479157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=479157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}