China Slaps 55% Tariff on US, Australia Beef Imports from Jan 1 Amid Domestic Industry Concerns

• China will impose an additional 55% tariff on specific beef imports from the US, Australia, and Brazil starting January 1.
• The tariffs apply to fresh, frozen, bone-in, and boneless beef exceeding annual import quotas.
• The move follows an investigation revealing negative impacts on China's domestic beef industry from rising overseas shipments.
• Additional tariffs will be in effect for three years until December 31, 2028, and will be gradually eased.
• China also suspended part of a free trade agreement with Australia concerning beef imports.

Why It Matters: China imposes new beef tariffs to protect its domestic industry, affecting major exporters.