China "ignores" US beef, Australian farmers benefit

China's de facto ban on U.S. beef is benefiting Australian cattle farmers and exporters, a new analysis model assesses that the country will reap further benefits from U.S. President Donald Trump's efforts to reshape global trade. The latest figures from the Australian Government show beef exports surged by 35% in the first seven months of the year, reaching 10 billion Australian dollars (6.6 billion USD). Exports to China increased by 65%, while exports to the U.S. increased by 48%. The growth in the Chinese market, mainly driven by the high-quality grain-fed beef segment, marks a dramatic turnaround for the Australian beef industry. Five years ago, the sector suffered heavily when Beijing imposed trade sanctions on Canberra amid diplomatic tensions. China, the world's largest importer of agricultural products, is now leveraging its position to pressure the U.S., including suspending soybean orders, even though the two countries recently extended their trade war truce. This move ...