Australia: How will the USA's Trump election affect Queensland cattle and grain producers?

Published 2024년 11월 7일

Tridge summary

In the wake of Donald Trump's election victory, professionals in Queensland's agriculture industry are concerned about the possibility of tariffs and trade wars, recalling similar issues from Trump's first term. While some see potential benefits, such as increased competitiveness in certain commodities, there is apprehension about the negative impact of trade restrictions on Australian exports, especially beef. The industry is cautiously awaiting specific policy changes, as Trump's campaign has suggested imposing significant tariffs on foreign imports. Previous trade tensions with China, which resulted in decreased Australian exports, underscore the potential challenges that may arise.

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

Original content

Agriculture industry professionals look to the future after Mr Trump's election win. Picture by Kelly Butterworth. Queensland agriculture industry professionals have raised concerns about tariffs and trade wars in the wake of Donald Trump's victory in the United States presidential election, while some have reserved judgement. All articles from our website & app The digital version of This Week's Paper Breaking news alerts direct to your inbox All articles from the other agricultural news sites in your area Mr Trump's opponent, current US vice-president Kamala Harris, conceded defeat on November 6 after he won the minimum number of electoral votes required to declare victory. Robinson Grain Trading Co commodity trader, Anthony Furse, Toowoomba, said the previous trade war between the US and China gave producers a sense of what could be ahead. "We were a beneficiary on sorghum for a period, because our price shot up, and there could be upsides this time," Mr Furse said. "But the ...

Source: Queenslandcountrylife