No Celebration In Australia

摘要

The US/Korean Free Trade Agreement (KORUS) took effect March 15, kicking off a 15-year phase out of duties on U.S. beef that will decrease the current 40% bite by 2.67%/year, arriving eventually at zero in 2027. While U.S. beef producers and exportersare celebrating the measure, Australian producers and exporters are lamenting the competitive disadvantage it presents them. Australian exporters and farmers have no such deal in place, and Australian negotiators are pessimistic that a similar agreement can be forged with South Korea this year. That means Australia will be perpetually playing catch up.