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The Guardian
4 days ago
- Business
- The Guardian
Are Australians about to see US beef on supermarket shelves? And why is Donald Trump celebrating?
Donald Trump has claimed victory over Australia's decision to lift restrictions on the import of US beef, but don't expect to see the product on supermarket shelves anytime soon, says industry. Much has been made of the timing of the decision, which followed a decade-long process by the agriculture department, and coincides with a push from the Trump administration to open up Australia's market to US exporters. The government has said there will be no weakening or compromise of Australia's biosecurity in opening the gates to more US beef, and most in the cattle and farming industry doubt we'll see much increase of US exports. Here's what you need to know about what impact it could have in Australia. Sign up: AU Breaking News email More than 99% of beef available in Australian pubs, supermarkets and restaurants is Australian beef, says Meat and Livestock Australia. The industry body, as well as Cattle Farmers Australia and the National Farmers' Federation, believe it's unlikely the restriction change will have any significant material impact. Dr Kate Sievert at Deakin University said US beef can't compete with the strong domestic cattle industry. She said it's unlikely Australians could see more US beef on the supermarket shelf, but it could be used more in fast-food or prepackaged meals. 'It's more likely to be used in specific segments of the food system, so areas like food service, particularly in fast-food service or ultra-processed products like ready meals,' Sievert said. 'The US relies a lot more on confined animal feeding operations where it's cheaper to produce.' That doesn't necessarily make it cheaper overall than Australian beef. The cattle industry has also pointed out that of the more niche or exclusive cuts of beef that the US produces, almost all are available already in Australia. Sievert said the rule change would put Australia more in line with countries such as Japan and South Korea that have been importing more beef from the US. But the US has also been facing a steady decline in its cattle herds, and production fell about 1% in 2024. 'Cattle herd sizes are the lowest they've been in decades,' Sievert said. Asked whether the decision on beef will change the dynamic with the US administration, the trade minister, Don Farrell, told the Lowy Institute thinktank on Friday: 'I'm not too sure. 'We haven't done this in order to entice the Americans into a trade agreement,' he said. 'President Trump thinks it's a good decision, [he's] taking credit for it. We have to pursue our national interest, and our national interest is the removal of all of those tariffs.' The government has been at pains to say the decision is not linked to the trade relationship, or the demands for open access from the US. Farrell said the government shouldn't 'give up' on the ambition to have the tariffs removed. He also said Australia's exports have been increasing to the US, ever since the tariffs were announced. 'We do $4bn worth of beef exports to the United States, and it's increasing by the way, we export huge amounts of beef to China, again, that's increasing.' On Thursday, Donald Trump wrote in a post on Truth Social, 'The other Countries that refuse our magnificent Beef are ON NOTICE.' The Nationals said those comments from Trump sit at odds with the government's assertion that the decision was separate to the tariffs. The deputy leader of the Nationals, Kevin Hogan, said in a statement that Australia cannot use 'our science-based biosecurity standards as a bargaining chip'. 'We have the US Trade Representative Jamieson Greer directly connecting this decision to the US-Australia trade relationship, but the Albanese Government is saying the complete opposite,' he said. Australia introduced a ban on US beef imports in 2003, in response to an outbreak of bovine spongiform encephalopathy (BSE) or mad cow disease. Any country seeking market access to import fresh beef products must undergo a BSE risk assessment. In 2015, Australia granted the US a category 1 status, following a risk assessment, meaning the US had 'comprehensive and well-established controls' to prevent BSE outbreaks in cattle. Category 1 countries are able to import fresh and processed beef into Australia so long as they comply with other conditions. In 2017, Australia released the beef review, which assessed applications for market access from countries that had passed the BSE risk assessment, including the US. That review should have been the final step in allowing access to the Australian market – except it specified that the animal from which the beef was derived must have been 'continuously resident' in the approved country since birth. In 2019, the government began allowing beef imports from cattle traceably born and raised in the US. Imports were also subject to an ongoing biosecurity review that, in practice, has still meant no imports of fresh beef. The restriction changes now allow beef exports that are sourced from cattle born in Canada or Mexico, which the US has been importing to bolster its national herd. That cattle must be traceable, and legally imported and slaughtered in the US. The US imported an average of 700,000 cattle, buffalo or bison from Canada each year between 2019 and 2023 and 1.2 million per year from Mexico over the same period. However, live cattle imports from Mexico have been banned in the US since May, due to the spread of a flesh-eating pest.
Sky News AU
5 days ago
- Business
- Sky News AU
‘We will not allow that to be diminished': Labor removes ban on US beef imports
National Farmers Federation president David Jochinke discusses Labor's removal of a ban on US beef imports. 'Australian biosecurity rules are put into place to not only protect our production, our farmers, but also our consumers,' Mr Jochinke told Sky News host Steve Price. 'We will not allow that to be diminished. 'We have called … to have an inquiry to ensure that these standards are rigorous enough.'
Sydney Morning Herald
22-07-2025
- Business
- Sydney Morning Herald
Australian superannuation: What does the average person with a $3 million total look like?
Of the 80,000 Australians with super balances eclipsing $3 million, about 55 per cent are male, one-quarter have at least one investment property and about a third are still earning wage or salary income, according to the association. Of those still working, most are in managerial or professional roles. Older Australians comprise an overwhelming majority of those with super balances above $3 million, with 65 per cent classed as retirees. About 90 per cent of those with super balances above that threshold are aged over 60 and just under half are aged over 70. While some individuals report little-to-no taxable income, the average taxable income of people with super balances over $3 million is $240,000 a year, while the median is $110,000 a year. These figures do not include income from superannuation in retirement phase, which can be withdrawn tax-free if an individual is aged over 60. About one in 20 reported income from farming or agricultural sources, but the Association of Superannuation Funds noted that often this was not the primary source of income, bringing into question claims that many farmers could be unfairly hit with unaffordable bills under the new super tax. National Farmers Federation president David Jochinke has taken aim at Labor's decision to tax unrealised capital gains, saying many farmers would not be able to pay the higher tax bill if the value of their land increased but their earnings did not, especially amid seasonal volatility. 'Taxing something that has only paper value, and no relation to your ability to pay that tax, is flawed,' he said previously. 'Farms will be sold and generations of farming discontinued purely on this decision.' But the data shows about 7 per cent of the Australians likely to be affected by the change – roughly 5600 people – live in rural areas, with only some of those ever having been involved in farming – and even fewer reporting self-managed super fund balances over $3 million. Most of those with more than $3 million in super live in affluent regions within the major capital cities, with very few in rural or remote areas. Areas with the highest shares of these people include the eastern suburbs, north shore and northern beaches in Sydney, inner areas of Melbourne and the Mornington Peninsula, and inner suburbs of Perth and Brisbane. The Association of Superannuation Funds also found there were significant numbers of these individuals in retirement areas such as the Gold Coast and the Sunshine Coast. Loading Meanwhile, areas with the lowest proportions of people with super balances over $3 million include rural Tasmania, the Hunter Valley, the Central West of NSW, Murray, outer south-west Sydney, Hume, Darling Downs, Darwin, Logan in Queensland, and Mandurah in Western Australia. Cut through the noise of federal politics with news, views and expert analysis. Subscribers can sign up to our weekly Inside Politics newsletter.
Daily Mail
22-07-2025
- Business
- Daily Mail
EXCLUSIVE Hidden cost of Labor's new super tax that could send prices soaring at Coles and Woolworths
Labor's radical tax plan for superannuation could end up seeing Australians pay more for their weekly food shop, farmers are warning. Parliament resumed for the first time since the May election on Tuesday, and one of the key pieces of legislation the Albanese government will try to get passed is a new tax on superannuation savings even before the funds are accessible. Anthony Albanese 's government wants to impose a new 15 per cent tax on unrealised super balances above $3million, which would see self-managed super funds taxed on the paper value of assets before they are sold. This radical departure from the usual capital gains tax practice would also double the headline tax rate to 30 per cent, with superannuation already subject to a 15 per cent earnings tax during the accumulation or working phase. While most wage earners have their super invested in liquid assets like shares and bonds, many farmers hold self-managed super funds tied to their land, and may be forced to sell the farm to stay under the $3million cap. National Farmers' Federation president David Jochinke told Daily Mail Australia that this could result in less supply of food and therefore higher prices. 'Higher taxes and costs on farm business ultimately make it harder for them to keep fresh produce on supermarket shelves, and this one has the potential to be significant,' he said. 'These farmers will be taxed simply because their land value has gone up on paper. No additional income. No sale. Just a tax bill.' 'This is not just about yachts and waterfront mansions. It's about orchards, dairies, and the family farms that put food on the table.' The National Farmers Federation estimates Labor's Better Targeted Superannuation Concessions bill from 2023 would affect 3,500 farmers immediately, with Labor proposing to backdate it to July 1. It estimates 17,000 family farms are held within a self-managed super fund, which can have up to six members. The government will not index that $3million threshold, meaning more and more people will become subject to the tax as inflation continues. The NFF argues this would see another 14,000 farmers have assets worth more than $3million in coming decades. 'We urge the government to proactively consider changes it can make to the proposed 'Super Tax' to avoid impacts on farmers and small businesses across the country,' Mr Jochinke said. Labor has a landslide majority in the House of Representatives but needs the Greens in the Senate to get legislation passed. The Greens want the threshold lowered from $3million to $2million but indexed for inflation. But Mr Jochinke said if the government is forced through negotiations to accept the Greens' position it would be an even worse outcome. 'This would be an even more devastating outcome for Australia's farming families than the original Super Tax parameters,' he said. 'Thousands more farms will be in jeopardy if the threshold is lowered to $2million. 'We are against the current bill, and in particular its taxing of unrealised gains, but to aim for an even lower threshold in order to ram the bill through the Senate is just reckless.' Nick McKim, the Greens' treasury and economic justice spokesman, said superannuation had become a way for people to accumulate vast sums at a tax rate that was well below that applied to income. 'Over time Australia's superannuation system has become less about providing a dignified retirement for working people, and more of a vehicle for wealth accumulation. This needs to change,' he said. 'The Greens want to ensure that very wealthy Australians pay their fair share of tax, so that governments can do more to support people who need it.'
The Advertiser
12-06-2025
- Business
- The Advertiser
Nats leader fears US beef deal will butcher biosecurity
Allowing US beef to enter Australia to avoid tariffs imposed by Donald Trump would pose a significant risk to farmers, the prime minister has been warned. The federal government is considering granting more American beef producers access to the local market as Anthony Albanese seeks to strike a tariff deal in a potential meeting with the US president. But Nationals leader David Littleproud has urged Mr Albanese not to put the industry at risk, saying an introduction of US beef would threaten biosecurity. "It's important that the federal government looks Australian farmers in the eyes and says to them that they won't be collateral in trying to cut a deal with President Trump," he told reporters in Brisbane on Friday. "We should not take a backward step and concede by a security code deposit of protecting the agricultural industry here in Australia." Beef imports from the US have been banned in Australia since 2003 after an outbreak of mad cow disease. The ban was overturned in 2019 for cattle raised and slaughtered in the US, but large amounts of beef sent to American abattoirs come from Mexico or Canada. Mr Littleproud said ensuring the origin of beef imported into Australia was critical. "This will decimate the agricultural sector if we blink and allow President Trump to be able to roll over us on biosecurity," he said. "Traceability is so important and this is why we shouldn't be playing with President Trump talking about biosecurity. "We should be talking about a rules-based order of trade." Demand for Australian beef has been strong due to the ongoing drought in the US and America's lower herd numbers. At the end of 2024, a much lower supply from the US was improving Australian prices and international market value. The prime minister is expected to meet with Mr Trump on the sidelines of the G7 conference or in the US in mid-June, after the US president exempted the UK from his supercharged tariffs. The UK deal offers hope to Australia, if the government plays its cards correctly, but Mr Albanese confirmed any tariff deal would not be at the expense of Australia's biosecurity. "We will not change or compromise any of the issues regarding biosecurity," he told ABC Radio on Friday. "If things can be sorted out in a way that protects our biosecurity, of course, we don't just say 'no, we don't want imports here' for the sake of it. "But our first priority is biosecurity." National Farmers Federation president David Jochinke welcomed the comments and said biosecurity assessment processes were crucial to ensuring imports were safe. The Department of Agriculture is reviewing Mexican and Canadian beef. Mr Albanese has had three conversations with Mr Trump but said he was looking forward to meeting him in person, calling him an "interesting character". Though US beef is up for discussion, Health Minister Mark Butler ruled out bargaining with Australia's Pharmaceutical Benefits Scheme. Government officials insist they seek a full exemption from all tariffs after Mr Trump imposed a 50 per cent steel and aluminium tariff on all trading partners except the UK, on top of his baseline 10 per cent "Liberation Day" levies. Allowing US beef to enter Australia to avoid tariffs imposed by Donald Trump would pose a significant risk to farmers, the prime minister has been warned. The federal government is considering granting more American beef producers access to the local market as Anthony Albanese seeks to strike a tariff deal in a potential meeting with the US president. But Nationals leader David Littleproud has urged Mr Albanese not to put the industry at risk, saying an introduction of US beef would threaten biosecurity. "It's important that the federal government looks Australian farmers in the eyes and says to them that they won't be collateral in trying to cut a deal with President Trump," he told reporters in Brisbane on Friday. "We should not take a backward step and concede by a security code deposit of protecting the agricultural industry here in Australia." Beef imports from the US have been banned in Australia since 2003 after an outbreak of mad cow disease. The ban was overturned in 2019 for cattle raised and slaughtered in the US, but large amounts of beef sent to American abattoirs come from Mexico or Canada. Mr Littleproud said ensuring the origin of beef imported into Australia was critical. "This will decimate the agricultural sector if we blink and allow President Trump to be able to roll over us on biosecurity," he said. "Traceability is so important and this is why we shouldn't be playing with President Trump talking about biosecurity. "We should be talking about a rules-based order of trade." Demand for Australian beef has been strong due to the ongoing drought in the US and America's lower herd numbers. At the end of 2024, a much lower supply from the US was improving Australian prices and international market value. The prime minister is expected to meet with Mr Trump on the sidelines of the G7 conference or in the US in mid-June, after the US president exempted the UK from his supercharged tariffs. The UK deal offers hope to Australia, if the government plays its cards correctly, but Mr Albanese confirmed any tariff deal would not be at the expense of Australia's biosecurity. "We will not change or compromise any of the issues regarding biosecurity," he told ABC Radio on Friday. "If things can be sorted out in a way that protects our biosecurity, of course, we don't just say 'no, we don't want imports here' for the sake of it. "But our first priority is biosecurity." National Farmers Federation president David Jochinke welcomed the comments and said biosecurity assessment processes were crucial to ensuring imports were safe. The Department of Agriculture is reviewing Mexican and Canadian beef. Mr Albanese has had three conversations with Mr Trump but said he was looking forward to meeting him in person, calling him an "interesting character". Though US beef is up for discussion, Health Minister Mark Butler ruled out bargaining with Australia's Pharmaceutical Benefits Scheme. Government officials insist they seek a full exemption from all tariffs after Mr Trump imposed a 50 per cent steel and aluminium tariff on all trading partners except the UK, on top of his baseline 10 per cent "Liberation Day" levies. Allowing US beef to enter Australia to avoid tariffs imposed by Donald Trump would pose a significant risk to farmers, the prime minister has been warned. The federal government is considering granting more American beef producers access to the local market as Anthony Albanese seeks to strike a tariff deal in a potential meeting with the US president. But Nationals leader David Littleproud has urged Mr Albanese not to put the industry at risk, saying an introduction of US beef would threaten biosecurity. "It's important that the federal government looks Australian farmers in the eyes and says to them that they won't be collateral in trying to cut a deal with President Trump," he told reporters in Brisbane on Friday. "We should not take a backward step and concede by a security code deposit of protecting the agricultural industry here in Australia." Beef imports from the US have been banned in Australia since 2003 after an outbreak of mad cow disease. The ban was overturned in 2019 for cattle raised and slaughtered in the US, but large amounts of beef sent to American abattoirs come from Mexico or Canada. Mr Littleproud said ensuring the origin of beef imported into Australia was critical. "This will decimate the agricultural sector if we blink and allow President Trump to be able to roll over us on biosecurity," he said. "Traceability is so important and this is why we shouldn't be playing with President Trump talking about biosecurity. "We should be talking about a rules-based order of trade." Demand for Australian beef has been strong due to the ongoing drought in the US and America's lower herd numbers. At the end of 2024, a much lower supply from the US was improving Australian prices and international market value. The prime minister is expected to meet with Mr Trump on the sidelines of the G7 conference or in the US in mid-June, after the US president exempted the UK from his supercharged tariffs. The UK deal offers hope to Australia, if the government plays its cards correctly, but Mr Albanese confirmed any tariff deal would not be at the expense of Australia's biosecurity. "We will not change or compromise any of the issues regarding biosecurity," he told ABC Radio on Friday. "If things can be sorted out in a way that protects our biosecurity, of course, we don't just say 'no, we don't want imports here' for the sake of it. "But our first priority is biosecurity." National Farmers Federation president David Jochinke welcomed the comments and said biosecurity assessment processes were crucial to ensuring imports were safe. The Department of Agriculture is reviewing Mexican and Canadian beef. Mr Albanese has had three conversations with Mr Trump but said he was looking forward to meeting him in person, calling him an "interesting character". Though US beef is up for discussion, Health Minister Mark Butler ruled out bargaining with Australia's Pharmaceutical Benefits Scheme. Government officials insist they seek a full exemption from all tariffs after Mr Trump imposed a 50 per cent steel and aluminium tariff on all trading partners except the UK, on top of his baseline 10 per cent "Liberation Day" levies. Allowing US beef to enter Australia to avoid tariffs imposed by Donald Trump would pose a significant risk to farmers, the prime minister has been warned. The federal government is considering granting more American beef producers access to the local market as Anthony Albanese seeks to strike a tariff deal in a potential meeting with the US president. But Nationals leader David Littleproud has urged Mr Albanese not to put the industry at risk, saying an introduction of US beef would threaten biosecurity. "It's important that the federal government looks Australian farmers in the eyes and says to them that they won't be collateral in trying to cut a deal with President Trump," he told reporters in Brisbane on Friday. "We should not take a backward step and concede by a security code deposit of protecting the agricultural industry here in Australia." Beef imports from the US have been banned in Australia since 2003 after an outbreak of mad cow disease. The ban was overturned in 2019 for cattle raised and slaughtered in the US, but large amounts of beef sent to American abattoirs come from Mexico or Canada. Mr Littleproud said ensuring the origin of beef imported into Australia was critical. "This will decimate the agricultural sector if we blink and allow President Trump to be able to roll over us on biosecurity," he said. "Traceability is so important and this is why we shouldn't be playing with President Trump talking about biosecurity. "We should be talking about a rules-based order of trade." Demand for Australian beef has been strong due to the ongoing drought in the US and America's lower herd numbers. At the end of 2024, a much lower supply from the US was improving Australian prices and international market value. The prime minister is expected to meet with Mr Trump on the sidelines of the G7 conference or in the US in mid-June, after the US president exempted the UK from his supercharged tariffs. The UK deal offers hope to Australia, if the government plays its cards correctly, but Mr Albanese confirmed any tariff deal would not be at the expense of Australia's biosecurity. "We will not change or compromise any of the issues regarding biosecurity," he told ABC Radio on Friday. "If things can be sorted out in a way that protects our biosecurity, of course, we don't just say 'no, we don't want imports here' for the sake of it. "But our first priority is biosecurity." National Farmers Federation president David Jochinke welcomed the comments and said biosecurity assessment processes were crucial to ensuring imports were safe. The Department of Agriculture is reviewing Mexican and Canadian beef. Mr Albanese has had three conversations with Mr Trump but said he was looking forward to meeting him in person, calling him an "interesting character". Though US beef is up for discussion, Health Minister Mark Butler ruled out bargaining with Australia's Pharmaceutical Benefits Scheme. Government officials insist they seek a full exemption from all tariffs after Mr Trump imposed a 50 per cent steel and aluminium tariff on all trading partners except the UK, on top of his baseline 10 per cent "Liberation Day" levies.
