China's Decision: The Asian giant imposed a quota and tariffs on Argentine meat

The government of China imposed a quota and tariffs on Argentine beef entering that market this Wednesday. The measure, enacted following a year-long investigation, will also affect sales by other exporters such as Brazil, Australia, and the United States, which will also have a quota. China is the largest customer of the country with 70% of purchases. The new regime for exporting to the Asian giant will be in effect from this Thursday and for three years. The quotas will increase in volume by 2% per year. In the case of Argentina, according to the provision of the Chinese Ministry of Commerce, the quota will be 511,000 tons and it will maintain the current 12.5% tariff that Argentine beef already pays in that destination. If the export exceeds this volume, a 55% tariff will have to be faced. In the third year of the measure's validity, Argentina will have a quota of 532,000 tons, due to the annual 2% increase. In the business sector, it was assessed that the quota would leave ...