Premium beef producers expect to be the main casualty of China’s new 55 per cent tariff

Australian cattle farmers producing wagyu and Angus beef are likely to be among the hardest hit by China’s 55 per cent tariff on beef exceeding the 205,000-tonne quota. China’s global trade restrictions came into effect on January 1 after claims by farmers in that country that beef imports were hurting their profitability. NSW Hunter Valley Angus producer Robert Mackenzie said the 55 per cent tariff would have a detrimental affect on his industry. “There would be no way that you’d be selling any product into China once that tariff comes into play, so it’ll be a little bit of a…