Demand for Aussie meat Trump's protectionist push from US's beef and lamb mob

Published 2024년 11월 7일

Tridge summary

The article explores the potential consequences of American ranchers' push for tariffs on Australian beef and lamb imports in light of President-elect Donald Trump's protectionist trade agenda. Despite these efforts, the US's dependency on Australian red meat to satisfy consumer demand and Trump's aim to lower living costs may hinder the imposition of such tariffs. Analysts argue that the US domestic market cannot fulfill consumer needs without imports, and tariffs could lead to inflation. Additionally, the article highlights uncertainties regarding policy changes, including the impact of US Federal Reserve actions on inflation and interest rates, which could affect the exchange rate. A stronger US dollar might make Australian products cheaper, potentially offsetting tariffs. Changes in US immigration policy and geopolitical relations, particularly with China, add further complexity to the trade landscape.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Pushes from American ranchers to get tariffs slapped on Aussie beef and lamb could be gazumped by the US' reliance on Australian red meat imports to meet consumer needs and President-elect Donald Trump's promises to address cost of living challenges. With changes to tariffs high on Donald Trump's protectionist agenda, it remains to be seen exactly how Australia's red meat sector might be affected, with the US is currently Australia's largest export market for beef, lamb and goat. Episode 3 analyst Matt Dalgleish said while Trump was big on protectionist trade, during his last presidency he gave Australian products exemptions to tariffs. "From a broader trade perspective Australia has a deficit trade balance with the US, we bring more product from the US over here than they take from us in terms of values so in Trump's eyes that would probably deem us to be a good trade partner ... obviously we're a political and military ally as well so that kind of puts us in good stead," he ...

Source: Farmweekly