Korean tariff suspension presents opportunity for Australian beef
South Korean President Yoon Suk-Yeol announced that tariffs would be suspended for 100,000 tonnes of imported beef from July 20 until the end of 2022.
MLA noted that, as the U.S. currently faces lower tariff rates than Australia, this presents a significant opportunity for Australia exporters, especially given that South Korea was the country’s second-largest beef export destination in 2021, growing by 5% year-on-year.
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