New year sees tariff cuts
A HUGE swathe of changes to tariffs on Australian goods came into effect on Tuesday, with the costs being reduced or eliminated for key exports.
The cuts are expected to help farmers have better access to overseas markets, said Minister for Agriculture David Littleproud.
“Tariffs on our farm produce going into China will be largely eliminated on January 1,” Mr Littleproud said.
“Just some of the benefits are our farmers will sell more dairy into Canada through a new quota, more rice into Japan, and no longer face tariffs on sheepmeat or pork into Mexico.
“We’re giving our farmers more options overseas so they can sell where they choose, not just to the supermarkets here in Australia.
“Australia exported more than $12.5 billion of agricultural produce to CPTPP countries last financial year, representing almost a quarter of Australia’s total ag exports.”
With another tariff cut having come into effect only days earlier, exporters have received two reductions in three days, thanks in part to the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP).
The long list of eliminated tariffs includes:
■ Nine per cent tariff on kangaroo hides and the 14 per cent tariff on kangaroo leather
■ 15 per cent tariff on cotton seeds
■ All tariffs on live animal exports, including live cattle exports
■ Beef tariffs into Canada
■ All remaining tariffs on Australian wool exports