“We welcome the lifting of these tariffs. That is good news for Australian beef producers,” Australian Foreign Minister Penny Wong told broadcaster ABC on Sunday. Prime Minister Anthony Albanese said his government would continue to call for no tariffs at all. The high tariffs on steel and aluminum are a particular thorn in Australia’s side.
Earlier this year, President Trump announced trade tariffs on Australia. The import and export of beef in particular bothered him: Australia had strict safety rules for the import of American meat, while the same did not apply the other way around. The gigantic imports from Australia also did the local producers no good. Trump hoped to protect American meat producers with the import tariffs.
Price increase
Now, however, those trade tariffs are coming back to the US like a boomerang. Australia was the biggest exporter of red meat to the US last year, with fast food chains and meat processors importing tonnes of Australian beef. They had to increase their prices due to the tariffs. This price increase ultimately falls on the consumer’s plate.
How Democrats Retaliated for the End of the Shutdown: Epstein Ghost Haunts White House Again
Trump therefore reduced certain tariffs on Australian goods under pressure from his supporters, who are struggling to make ends meet. Consumers in the country are concerned about rising supermarket prices. Australia previously responded to the US by relaxing the rules surrounding the import of beef.