Australian Meat Industry Council (AMIC) notes the changes to United States import tariffs announced over the weekend following the US Supreme Court’s ruling regarding the ‘Liberation Day’ Emergency Powers Act tariffs.
AMIC CEO Tim Ryan says AMIC understands that, following a number of announcements, the United States Administration will implement a new global tariff, now set at 15%.
“AMIC is working with our partners in government and industry to get a firm understanding of the application of the new tariffs, including confirmation that the 15% will not apply to beef exports and when the tariffs will enter into force.
“Regardless, it appears that sheepmeat and goatmeat exports will now face an increase in applied tariff from 10% to 15%, with Australia also losing any comparative advantage we had held under the previous tariff arrangements,” he says.
“These changes come at a particularly difficult time for the Australian sheepmeat supply chain, with processors and exporters trading on thin or negative margins amid high livestock prices and soft demand.
“The U.S is a longstanding and valuable export market for Australian red meat, and these developments reintroduce significant uncertainty and costs for Australian exporters and U.S. consumers alike.
“AMIC will continue to work closely with the Australian Government and industry partners to clarify the application and operation of these changes, advocate for trade stability, and ensure our industry’s interests are strongly represented.”
Media contact:
Jemma Harper – General Manager Corporate Affairs
M: 0429 040 128
E: [email protected]
