Australian Exporters to Reap Benefits of Recent Tariff Cuts, Trade Minister Says
Australian exporters will see significant benefits from the recent round of tariff cuts as part of the country’s free trade deals with South Korea and China and the Trans-Pacific Partnership, Australia’s trade minister said Jan. 1. Several rounds of tariff cuts took effect at the start of 2020 for Australian exporters, the minister said, including reduced tariff rates for exports of milk powders, goat meat, oranges, shelled almonds and skin care products into China. Tariffs will also be reduced on lamb exports to South Korea and beef exports to Mexico, Australia said.
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“These latest tariff cuts will deliver an additional competitive edge for our exporters into these key markets,” Simon Birmingham, Australia's minister of trade, tourism and investment, said in a statement. “Our Government has done the heavy lifting and delivered these deals and our farmers and businesses continue to reap the benefits.”