There's a trade war that domestic news hasn't really covered, and it's about beef.
China now implements a quota system for beef imports.
Australia was the first to exhaust its 205,000-ton annual quota, and starting June 20, all Australian imported beef will face an additional
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There's a trade war that domestic news hasn't really covered, and it's about beef.
China now implements a quota system for beef imports.
Australia was the first to exhaust its 205,000-ton annual quota, and starting June 20, all Australian imported beef will face an additional 55% safeguard tariff.
For example Australian beef ribs, it started with prices jumping from sixty or seventy to eighty or ninety, and eventually they just stopped selling them altogether.
China's cattle aren't as robust as the ones in Australia, and China’s pastures aren't on the same massive scale.
Previously, China strongly opposed the EU and the US slapping tariffs on the surge in auto exports, but when it's China turn to do the tariff, suddenly no one is making a big fuss.
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