Meat sector unclear what Trump's tariff's mean for New Zealand
Kate Acland from Beef and Lamb said it's too soon to judge whether the announcement will lower beef prices.
The export meat sector in New Zealand remains uncertain about the potential impact of Donald Trump's recent tariff announcement on their industry. In a bid to curb rising grocery prices in the United States, the US government has decided to allow countries to import up to 300,000 metric tonnes of ground beef products for a 90-day period without incurring costly out-of-quota tariffs.
Typically, countries exceeding their standard import levels face a substantial tariff of over 26 percent. The specific countries to be included in the deal have yet to be disclosed. Trump stated on his Truth Social platform that his administration has secured a commitment that imported beef will be sold at a 25 percent discount compared to current US market prices.
Kate Acland, a representative from Beef and Lamb, explained that New Zealand already enjoys extensive meat access into the US and is currently tariff-free. Lean beef trim is a significant export to the US, crucial for lower-value products. However, Acland noted that this announcement is premature, and its effects on beef prices remain unclear.
If Brazil benefits from the tariff change, it could lead to a slight decrease in beef prices. Acland stated that exporters will need to await further details before drawing any conclusions.
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