New year sees tar­iff cuts

Balonne Beacon - - NEWS WELCOME -

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

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.