Taiwan temporarily reduces tariffs on beef and wheat
Wheat
Frozen Bone-In Beef
Taiwan
Australia
Published Dec 21, 2021
Tridge summary
On 30 November 2021, the Taiwanese Government announced a temporary reduction of tariffs on beef and wheat. This will take effect from 1 December 2021 until 31 March 2022. The tariff on beef will be reduced by 50% to NT$5/kg (approximately A$0.25/kg). The tariff on wheat will be reduced to zero (down from 6.5%). These measures are intended to address food price inflation in Taiwan. These tariff reductions will temporarily reduce the cost of exporting beef and wheat to Taiwan.
Original content
On 30 November 2021, the Taiwanese Government announced a temporary reduction of tariffs on beef and wheat. This will take effect from 1 December 2021 until 31 March 2022. The tariff on beef will be reduced by 50% to NT$5/kg (approximately A$0.25/kg). The tariff on wheat will be reduced to zero (down from 6.5%). These measures are intended to address food price inflation in Taiwan. These tariff reductions will temporarily reduce the cost of exporting beef and wheat to Taiwan. This will make imported products, including products from Australia, more competitive against locally produced beef and wheat. Taiwan is an important market for Australian food and beverage exporters. Prices for Australian agricultural products in Taiwan are often higher than the average price in Australia’s other export markets. This includes beef and wheat. Taiwan sources most imported beef and wheat from the US. Australia is the second largest supplier of each commodity. In 2020, the US had a 75% share of ...
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