US steaks on the barbie: Trump smug on Aust beef u-turn
Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower.
Australia plans to take US beef for the "first time," Trump said in a post on Truth Social on Thursday, calling it a "very big market".
Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy, or mad cow disease.
Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico.
Last night, in another post, Trump said the US would "sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World."
"The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued.
Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States – a characterisation many economists dispute.
"For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers".
Australia is not a significant importer of beef but the United States is and a production slump is forcing it to step up purchases.
Last year, Australia shipped almost 400,000 metric tonnes of beef worth $US2.9 billion ($A4.4 billion) to the United States, with just 269 tonnes of US product moving the other way.
Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices.
On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States.
The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector.
"We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement.
Australia, which imports more from the US than it exports, faces a 10 per cent across-the-board US tariff, as well as 50 per cent tariffs on steel and aluminium.
Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals.
Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure".
"We haven't done this in order to entice the Americans into a trade agreement," he said.
"We think that they should do that anyway."
US President Donald Trump has applauded Australia's relaxation of import restrictions on American beef, adding that other countries that refuse US beef products are on notice.
Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower.
Australia plans to take US beef for the "first time," Trump said in a post on Truth Social on Thursday, calling it a "very big market".
Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy, or mad cow disease.
Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico.
Last night, in another post, Trump said the US would "sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World."
"The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued.
Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States – a characterisation many economists dispute.
"For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers".
Australia is not a significant importer of beef but the United States is and a production slump is forcing it to step up purchases.
Last year, Australia shipped almost 400,000 metric tonnes of beef worth $US2.9 billion ($A4.4 billion) to the United States, with just 269 tonnes of US product moving the other way.
Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices.
On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States.
The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector.
"We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement.
Australia, which imports more from the US than it exports, faces a 10 per cent across-the-board US tariff, as well as 50 per cent tariffs on steel and aluminium.
Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals.
Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure".
"We haven't done this in order to entice the Americans into a trade agreement," he said.
"We think that they should do that anyway."
US President Donald Trump has applauded Australia's relaxation of import restrictions on American beef, adding that other countries that refuse US beef products are on notice.
Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower.
Australia plans to take US beef for the "first time," Trump said in a post on Truth Social on Thursday, calling it a "very big market".
Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy, or mad cow disease.
Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico.
Last night, in another post, Trump said the US would "sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World."
"The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued.
Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States – a characterisation many economists dispute.
"For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers".
Australia is not a significant importer of beef but the United States is and a production slump is forcing it to step up purchases.
Last year, Australia shipped almost 400,000 metric tonnes of beef worth $US2.9 billion ($A4.4 billion) to the United States, with just 269 tonnes of US product moving the other way.
Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices.
On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States.
The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector.
"We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement.
Australia, which imports more from the US than it exports, faces a 10 per cent across-the-board US tariff, as well as 50 per cent tariffs on steel and aluminium.
Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals.
Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure".
"We haven't done this in order to entice the Americans into a trade agreement," he said.
"We think that they should do that anyway."
US President Donald Trump has applauded Australia's relaxation of import restrictions on American beef, adding that other countries that refuse US beef products are on notice.
Australia on Thursday said it would loosen biosecurity rules for US beef, something analysts predicted would not significantly increase US shipments because Australia is a major beef producer and exporter whose prices are much lower.
Australia plans to take US beef for the "first time," Trump said in a post on Truth Social on Thursday, calling it a "very big market".
Canberra has restricted US beef imports since 2003 due to concerns about bovine spongiform encephalopathy, or mad cow disease.
Since 2019, it has allowed in meat from animals born, raised and slaughtered in the US but few suppliers were able to prove that their cattle had not been in Canada and Mexico.
Last night, in another post, Trump said the US would "sell so much to Australia because this is undeniable and irrefutable Proof that US Beef is the Safest and Best in the entire World."
"The other Countries that refuse our magnificent Beef are ON NOTICE," the post continued.
Trump has attempted to renegotiate trade deals with numerous countries he says have taken advantage of the United States – a characterisation many economists dispute.
"For decades, Australia imposed unjustified barriers on US beef," US Trade Representative Jamieson Greer said in a statement, calling Australia's decision a "major milestone in lowering trade barriers and securing market access for US farmers and ranchers".
Australia is not a significant importer of beef but the United States is and a production slump is forcing it to step up purchases.
Last year, Australia shipped almost 400,000 metric tonnes of beef worth $US2.9 billion ($A4.4 billion) to the United States, with just 269 tonnes of US product moving the other way.
Australian officials say the relaxation of restrictions was not part of any trade negotiations but the result of a years-long assessment of US biosecurity practices.
On Wednesday, Australia's agriculture ministry said US cattle traceability and control systems had improved enough that Australia could accept beef from cattle born in Canada or Mexico and slaughtered in the United States.
The decision has caused some concern in Australia, where biosecurity is seen as essential to prevent diseases and pests from ravaging the farm sector.
"We need to know if (the government) is sacrificing our high biosecurity standards just so Prime Minister Anthony Albanese can obtain a meeting with US President Donald Trump," shadow agriculture minister David Littleproud said in a statement.
Australia, which imports more from the US than it exports, faces a 10 per cent across-the-board US tariff, as well as 50 per cent tariffs on steel and aluminium.
Trump has also threatened to impose a 200 per cent tariff on pharmaceuticals.
Asked whether the change would help achieve a trade deal, Australian Trade Minister Don Farrell said: "I'm not too sure".
"We haven't done this in order to entice the Americans into a trade agreement," he said.
"We think that they should do that anyway."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
AU Financial Review
30 minutes ago
- AU Financial Review
ASX to open lower as weak US jobs data sparks jitters; $A rallies
The Australian sharemarket is set for a weak start to the week, with investors rattled by fresh signs of a slowdown in the US economy. A softer-than-expected July non-farm payrolls report spurred concerns about the health of the world's largest economy. Just 73,000 jobs were added in the month – well short of the 100,000 forecast by economists. Adding to the gloom, previous months' figures were revised sharply lower, with a combined 258,000 jobs stripped from the May and June tallies. That dragged the three-month average to 35,000 – the slowest pace of hiring outside the pandemic since 2010. ASX futures slipped 32 points, or 0.4 per cent, to 8710, tracking a steep decline on Wall Street, where the S&P 500 shed 1.6 per cent on Friday. The Australian dollar jumped 0.8 per cent to US64.7¢ as the weak data sent the greenback tumbling. Perpetual head of investment strategy Matthew Sherwood said the report confirmed that earlier signs of cooling demand were now showing up in the labour market. 'Domestic demand had already been slowing through the first half of the year, and now we're seeing that reflected in jobs,' Sherwood said. 'The revisions were the key story – they suggest the market's been overestimating the strength of the economy.' He warned that investors were beginning to question whether valuations could hold up as the cycle turns. 'We're sitting at valuation levels close to the highest in two decades,' he said. 'With the economy looking like it's approaching stall speed, that's bound to affect earnings expectations.' The US dollar slumped on the jobs report, fuelling gains in the Aussie, which was last up 0.6 per cent to US64.62¢ ahead of Monday's open. Locally, attention shifts to August earnings season, with a heavy slate of results due this week from names including REA Group, AMP, News Corp, Nick Scali, QBE Insurance and Block. Markets are also eyeing the Bank of England's upcoming interest rate decision, with economists tipping a 25 basis point cut that would lower the UK cash rate to 4 per cent.
The Age
an hour ago
- The Age
Australia news LIVE: More aid for Gaza announced after Harbour Bridge protest; evacuation warnings issued after NSW flooding
Latest posts Latest posts 6.48am TikTok ads drive defence enrolment surge By Matthew Knott Advertising on computer games and social media platforms like TikTok has helped drive the biggest surge in Defence Force recruitment in 15 years, a major turnaround that the federal government says has put the military on track to achieve ambitious growth targets. The Australian Defence Force has been plagued by a recruitment and retention crisis in recent years, but in the past financial year, the military enlisted 7059 permanent personnel, the highest annual intake since 2009. The full-time ADF workforce has now reached 61,189, slightly below its authorised strength of 62,700 permanent members but significantly up on previous estimates. More than 75,000 people applied to join the ADF in the past year, the highest number in five years and a 28 per cent increase on the previous year. 6.45am Israeli minister triggers condemnation after praying at flashpoint holy site A far-right Israeli minister has visited and prayed at Jerusalem's most sensitive holy site, triggering regional condemnation and fears that the provocative move could further escalate tensions. The visit on Sunday came as hospitals in Gaza said 33 more Palestinians seeking aid were killed by Israeli fire. Photos and videos showed Itamar Ben-Gvir leading Jewish prayers at the compound, which is known by Jews as the Temple Mount, in the walled Old City of occupied East Jerusalem. The hillside area is the most sacred site in Judaism and was home to the ancient biblical temples. Muslims call the site the Noble Sanctuary. Today, it is home to the Al-Aqsa Mosque, the third-holiest site in Islam. 6.41am What's making news today By Daniel Lo Surdo Hello and welcome to the national news live blog. My name is Daniel Lo Surdo, and I'll be helming our live coverage this morning. Here's what is making news today: Foreign Minister Penny Wong has committed a further $20 million to the Gaza humanitarian response one day after some 90,000 pro-Palestine protesters walked across the Sydney Harbour Bridge to demand an end to a worsening crisis in the Middle East. It takes Australia's total contribution to $130 million, and will support humanitarian organisations to provide food and medical supplies. Evacuation warnings have been issued in the NSW Hunter and Mid North Coast region amid major flooding on the Peel and Namoi Rivers. The flooding has prompted emergency warnings for parts of Gunnedah and Raymond Terrace after inundation occurred in areas adjacent to the river. The NSW State Emergency Service said they had responded to 18 flood rescues on Sunday night, with about 1500 volunteers activated. The Australian sharemarket is expected to slide after Wall Street suffered its worst day since May after President Donald Trump imposed sweeping tariffs on US trading partners. Trump left trade penalties on Australian goods at its previously announced 10 per cent rate, and pushed back the beginning date to August 7, adding increasing uncertainty to the global trade picture.
Perth Now
an hour ago
- Perth Now
Stocks slump on latest tariffs, soft jobs data
US stocks slumped on Friday, and the S&P suffered its biggest daily percentage decline in more than two months as new US tariffs on dozens of trading partners and a surprisingly weak jobs report spurred selling pressure. Also weighing on equities was an 8.3 per cent tumble in shares after the company posted quarterly results but failed to meet lofty expectations for its Amazon Web Services cloud computing unit. Just hours before the tariff deadline on Friday, President Donald Trump signed an executive order imposing duties on US imports from countries, including Canada, Brazil, India and Taiwan, in his latest round of levies as countries attempted to seek ways to reach better deals. Further denting confidence in the economic picture, data showed US job growth slowed more than expected in July while the prior month's report was revised sharply lower, indicating the labour market may be starting to crack. The report significantly pushed up expectations the Federal Reserve will cut interest rates at its September meeting. "There's no way to pretty-up this report. Previous months were revised significantly lower where the labour market has been on stall-speed," said Brian Jacobsen, Chief Economist at Annex Wealth Management in Menomonee Falls, Wisconsin. "Last year the Fed messed up by not cutting in July so they did a catch-up cut at their next meeting. They'll likely have to do the same thing this year." Market expectations the Fed will cut rates by at least 25 basis points at its September meeting stood at 86.5 per cent, according to CME's FedWatch Tool, up from 37.7 per cent in the prior session. The Dow Jones Industrial Average fell 542.40 points, or 1.23 per cent, to 43,588.58, the S&P 500 lost 101.38 points, or 1.60 per cent, to 6,238.01 and the Nasdaq Composite lost 472.32 points, or 2.24 per cent, to 20,650.13. The S&P 500 recorded its biggest single-day percentage decline since May 21 while the Nasdaq suffered its biggest daily percentage drop since April 21. For the week, the S&P 500 fell 2.36 per cent, the Nasdaq declined 2.17 per cent, and the Dow fell 2.92 per cent. The CBOE Volatility Index, also known as Wall Street's fear gauge, closed up 3.66 points at 20.38, its highest close since June 20. Amazon was the biggest drag on the Dow, S&P 500 and Nasdaq and pushed the consumer discretionary index, down nearly 3.6 per cent as the worst performing of the 11 major S&P 500 sectors. Also reporting earnings was Apple, which lost 2.5 per cent after it posted a current-quarter revenue forecast well above Wall Street estimates, but CEO Tim Cook warned US tariffs would add $US1.1 billion ($A1.7 billion) in costs over the period. Stocks briefly extended declines after Trump said he ordered the commissioner of the US Bureau of Labor Statistics, Erika L. McEntarfer, to be fired in the wake of the jobs data. "(Trump) didn't seem to be disappointed with the last five jobs reports," said Art Hogan, Chief Market Strategist, B. Riley Wealth, Boston, saying that the firing stood out as irregular. "I think this is clearly something that happens in dictatorships, not in democracies." The Federal Reserve said Governor Adriana Kugler is resigning early from her term and will exit the central bank on Aug. 8, enabling President Donald Trump to select a new governor as he has ramped up pressure against Chair Jerome Powell recently to cut interest rates. Declining issues outnumbered advancers by a 2.17-to-1 ratio on the NYSE, and by a 2.69-to-1 ratio on the Nasdaq. The S&P 500 posted eight new 52-week highs and 29 new lows, while the Nasdaq Composite recorded 29 new highs and 202 new lows. Volume on US exchanges was 19.51 billion shares, compared with the 18.44 billion average for the full session over the last 20 trading days.
