The Taiwanese government has temporarily slashed tariffs on beef and wheat imports until the end of March 2022, in an effort to combat food price inflation. The tariff on beef will be slashed by half to NT$5/kg (approximately A$0.25/kg), and wheat tariffs will be zeroed. This move is expected to make imported goods, including Australian beef and wheat, more competitive against locally produced counterparts. Taiwan, a significant market for Australian food and beverage exporters, relies heavily on the US for beef and wheat imports, with Australia emerging as the second largest supplier for both products. The tariff reduction could result in cost savings for Australian exporters, with potential savings of up to $2 million for beef and $1 million for wheat over the four-month period.