Latest news with #traderelations
Reuters
44 minutes ago
- Business
- Reuters
Australia relaxes curbs on US beef that angered Trump
SYDNEY/CANBERRA, July 24 (Reuters) - Australia will ease restrictions on beef imports from the United States, the country's agriculture ministry said on Thursday, potentially smoothing trade talks with U.S. President Donald Trump, who had attacked its rules. Still, the decision is unlikely to significantly boost U.S. shipments because beef prices are much lower in Australia, analysts said. Agriculture Minister Julie Collins said in a statement a "rigorous science and risk-based assessment" had concluded that U.S. measures to monitor and control the movement of cattle meant biosecurity risks were being effectively managed. The government "will never compromise on biosecurity," she said, adding: "Australia stands for open and fair trade – our cattle industry has significantly benefited from this." Canberra has restricted U.S. beef imports since 2003 due to concerns about bovine spongiform encephalopathy (BSE), or mad cow disease. Meat from animals born, raised and slaughtered in the U.S. has been allowed into Australia since 2019. But few suppliers were able to prove their animals had been only in the U.S., because cattle frequently moved between the U.S., Canada and Mexico without being adequately tracked. The U.S. has been improving its ability to monitor animals' movements to limit the spread of avian influenza and the New World screwworm, a parasite that eats cattle alive. Recognising those improvements, Australia will now also accept beef sourced from cattle born in Canada or Mexico and legally imported and slaughtered in the U.S., the agriculture ministry said. Australian firms will be able to apply for import permits from July 28, it added. News of Australia changing its policy was first reported by the Australian Financial Review. The report said Australia will use the easing of rules to argue its case for the United States to wind back 50% tariffs on steel and aluminium and Trump's threat to impose a 200% tariff on pharmaceuticals. Trump in April singled out the beef trade disparity with Australia after Australia's beef exports to the United States surged last year, reaching A$4 billion ($2.64 billion) amid a slump in U.S. beef production. Australia's biosecurity regimen aims to keep its cattle disease-free and help it preserve access to lucrative markets such as Japan and South Korea. U.S. beef shipments to Australia restarted last year after a hiatus. But exports remained tiny. Last year's shipment of 269 tons of beef to Australia was the most for any year, beating out the 263 tons sent in 1995, Australian customs data show. Australia has shipped between around 150,000 tons and 400,000 tons of beef every year to the U.S. since 1990, with U.S. fast-food chains prizing Australian product for its lower fat content and competitive prices. Cattle prices in the United States are almost always higher than in Australia and are currently double Australian levels, said Matt Dalgleish, a meat and livestock analyst at consultants Episode 3. "This is not going to displace Australian beef in the Australian market," he said.
Yahoo
an hour ago
- Business
- Yahoo
Huge claim on beef after Trump threat
Australia lifting restrictions on US beef imports has nothing to do with drawn out trade talks with the Trump administration or a recent threat to pharmaceutical exports, according to the Albanese government. Agriculture Minister Julie Collins confirmed on Thursday Australia will remove the ban on American beef from cattle originating in Canada and Mexico after a decade-long review. It was one of Washington's key demands, with Donald Trump accusing Australia of banning American beef during remarks on 'liberation day' – the day the US imposed blanket tariffs on all foreign imports, including Australian products. But both Ms Collins and Trade Minister Don Farrell have claimed it is simply a coincidence the beef review ended just weeks after the US President threatened a 200 per cent tariff on foreign-made pharmaceuticals. 'We haven't made any compromise, and we certainly haven't compromised Australia's strict biosecurity laws,' Senator Farrell told reporters huddled in a Parliament House corridor on Thursday. 'This has been a process that's been underway for the last 10 years. 'It's now come to a completion, and it's appropriate that we announce the results of that inquiry, but at no stage do we risk our terrific biosecurity standards for any trade arrangement.' As trade minister, Mr Farrell is spearheading efforts to get an Australian carve out from Mr Trump's tariffs. Pressed on the timing of the review's end, the Labor heavyweight dismissed that he had a hand in it. 'I'm not in charge of when our officials make these make these decisions,' Senator Farrell said. 'Just as we export our product overseas and have to meet the biosecurity requirements of other countries, other countries … are entitled to make the same application to get their product into Australia. 'Countries do this on a routine basis. 'Our process has now been completed, and it's appropriate that we publicly announce the results of that inquiry.' During Mr Trump's liberation day remarks in April, he was clearly aggrieved by the imbalance of the two-way beef trade. 'Australia bans – and they're wonderful people, and wonderful everything – but they ban American beef,' he said at the time. 'Yet we imported $(US) 3bn of Australian beef from them just last year alone. They won't take any of our beef. 'They don't want it because they don't want it to affect their farmers and … I don't blame them, but we're doing the same thing right now.' He was not wrong on an imbalance, but also not totally right. In 2019, Australia started letting in American beef from bovines born and bred in the US, partially ending a blanket ban following the 2003 mad cow disease outbreak. But with a huge domestic supply, Australia has not imported any of the US' offerings. The US last year rolled out new standards tracing all cattle brought into the country from Canada and Mexico. Similar to Australia's own domestic tagging system, the new standards let authorities track cattle throughout the supply chain, all the way back to their originating farms. In a rushed press appearance, Ms Collins said her department was happy with the new US regulations. 'My department has done a rigorous assessment,' she told reporters, noting again that it has been 'ongoing for around a decade'. 'My department has been doing a rigorous assessment of that in terms of the traceability of that beef and the systems through the US system.' She added that her 'officials have been over in the US' as part of the process. Ms Collins also denied the decision was based on anything other than 'science'. 'Our biosecurity risk assessment process is very robust, and I have faith in the department to do this appropriately,' she said. 'These are experts in the field. 'Australia's biosecurity system is well renowned for a reason, and this assessment has now been completed.' The ban's lifting comes just a day after Mr Trump announced a trade deal had been struck with Japan. The deal dropped the threatened blanket 25 per cent levy to 15 per cent, which is still higher than the universal 10 per cent Australia has. It also lowered the impost on Japanese cars to 15 per cent – the lowest rate of any auto-making country. 'Meeting with President Trump' Even the prospect of changing biosecurity laws was enough to spark fury from the Nationals last month, with the party's leader David Littleproud demanding Mr Albanese rule out any weakening of restrictions. Mr Littleproud's Coalition colleague, Liberal senator James Paterson, was noticeably cautious to give a read on the latest development when fronting Sky News. The opposition finance spokesman said that it is 'more easy than it ever has been to track the origin of species and cattle and other produce' and that 'there's no reason why that couldn't be done by other countries as well'. 'Perhaps the Prime Minister has found a way through this problem,' Senator Paterson said. 'But if he has, he should explain how he's done so. 'He should stand up today and explain to the beef farmers of Australia that there is no risk for their biosecurity and that he hasn't watered it down. 'But if he has watered it down, I think this is what's going to be a very difficult one for the government to explain.' The Albanese government was rattled earlier this month by the US President's threat to slap a 200 per cent duty on foreign pharmaceuticals. Australia exported some $2.2bn in pharmaceuticals to the US in 2024, making it the third-biggest export market. The Trump administration has also not kept secret it is mulling further sectoral tariffs to impose on top of baseline and so-called 'reciprocal' rates. While Australia dodged the reciprocal tariffs earlier this year, it has not been able to escape levies of up to 50 per cent on steel and aluminium. Senator Paterson said a 'meeting with President Trump' would be a better way to get a tariff exemption, pointing out that Mr Albanese has not yet secured a face-to-face with the US leader. 'It is inexplicable that Australia, traditionally a tier-one US ally, has gone this long without a meeting between our prime minister and a new president,' he said. 'It's extraordinary, frankly, countries who are far less close to the United States have managed to get audiences with the President in the Oval Office far earlier than this government even appears to have attempted to do so. 'So that is the critical thing that needs to be done if we're to secure a good trade relationship, and, frankly, also safeguard AUKUS and our important national security relationship as well.' While some governments have locked in trade deals with Washington, no country has managed to secure a complete exemption from the Trump administration's tariffs.
LBCI
11 hours ago
- Business
- LBCI
Bahrain to establish permanent diplomatic mission in Beirut, King Tells President Aoun
Bahrain's King Hamad bin Isa Al Khalifa announced his country's decision to establish a permanent diplomatic mission in Beirut during a meeting with Lebanon's President Joseph Aoun. The king expressed pride in the move and said he looked forward to the talks with the Lebanese side marking a new phase of productive bilateral cooperation in areas of mutual interest. For his part, President Aoun thanked King Hamad for the decision and affirmed Lebanon's desire to resume full trade relations with Bahrain and strengthen cooperation across various fields for the benefit of both peoples. He also expressed appreciation for the warm reception and continued support Lebanon has received from Bahrain, both before and after the visit.
Yahoo
a day ago
- Business
- Yahoo
EU and Japan prepare delicate balancing act with US
The EU and Japan are set to underline the virtues of a rules-based economic order when they meet in Tokyo for summit on Wednesday, but the backdrop of tense trade relations with the US is hovering over the shoulders on both sides. The 30th EU–Japan summit comes at a delicate time, as both powers are entangled in tariff disputes with the US. Japan and the EU are already facing 50% US tariffs on their steel and aluminium exports, 25% on cars, and 10% on all other exports. "We share some fundamental principles, such as the need to maintain a predictable and free economic order," a senior EU official said ahead of the summit. During the summit, Commission President Ursula von der Leyen and Japanese Prime Minister Shigeru Ishiba will compare notes on the US measures. The summit comes at a tricky moment for both as they are in the midst of negotiations with the US and are eager to avoid any escalation at all costs. Like the EU, Tokyo maintains a significant trade surplus with the US, $68.4 billion (€58,44 billion), while the EU's surplus with the US stands at €50 billion. If both fail to reach a deal with the Trump administration by 1 August, the US is threatening to raise tariffs to 25% on Japanese imports and up to 30% on those from the EU. 'The US is and will be the most important ally for Japan,' a Japanese official told Euronews. The EU and Japan don't share the same approach to negotiation with the US, however. While the EU is preparing countermeasures (two packages of €21 and €72 billion each), Japan is not planning any retaliation, even if the same Japanese official said that 'all option remains on the table'. 'Japan and the EU have different approaches because they have different market structures and different economies,' the official explained. However insiders from both sides agree that their businesses need predictability. 'The success of the summit will depend on whether the EU and Japan can demonstrate their firm alignment in pursuing the rule-based global trade system in the face of Trump administration policy,' Hibiki Kimura, from the Japanese law firm Nishimura & Asahi, told Euronews, adding: 'Both the EU and Japan need to provide businesses with predictability, but fluctuating tariff plans have introduced the risk of global value chain disruption.' Melden Sie sich an, um Ihr Portfolio aufzurufen.
The Guardian
15-07-2025
- Politics
- The Guardian
Trump dismisses parliamentary recall idea and praises Starmer's Brexit efforts
Donald Trump has said he does not want parliament to be recalled for his state visit to the UK, praising the prime minister, Keir Starmer, and saying that despite being a liberal he was 'straightening out' a 'sloppy' Brexit. Speaking to the BBC in a rare interview with the broadcaster, the US president said he had made trade agreements to lower tariffs on the UK specifically because of his affinity with Britain, saying 'I do' believe in the special relationship between the two countries. Trump added that he was convinced the UK would come to the US's aid if it were at war. He said: 'I think they would be, I don't think a lot of the other countries would be. 'It's a special relationship. Look, that's why I made a deal with them … for the most part in terms of your competitors and in terms of the European Union, I haven't made a deal. Now the UK is very special … they have been a really true ally.' Trump, who will visit the UK for an unprecedented second state visit in September, said he was happy only to visit Starmer and King Charles, rather than have the opportunity to address parliament, like the French president, Emmanuel Macron, did last week. Parliament will be in recess during the US president's state visit. The Reform UK leader, Nigel Farage, has said parliament should be recalled for an address from Trump, but the US president said he was not interested. 'I think let them go and have a good time. I don't want that. 'I want to have a good time and respect to King Charles, because he's a great gentleman.' Trump, who has previously been a key advocate of Brexit, suggested he did not think the potential had been fulfilled – but said Starmer was making progress. 'No, I think, I think it's been on the sloppy side, but I think it's getting straightened out. I really like the prime minister a lot even though he's a liberal, I think he's, you know, he did a good trade deal with us.' Trump said he believed there was a newfound respect for him among world leaders – now he had twice won the presidency. 'When you do it twice, it's the big difference. I also think that over the years, they've gotten to know me, this is not an easy crowd to break into,' he said. 'These are smart people heading up very, very successful … countries, you know, they're Germany and France, Spain and, yeah, big.' Asked if he felt world leaders were being too obsequious and deferential, Trump said: 'Well, I think they're just trying to be nice.' Trump said he was 'disappointed, but not done' with the Russian president, Vladimir Putin, hours after he announced a military deal with Nato countries to arm Ukraine. His announcement, alongside the Nato secretary general, Mark Rutte, in the Oval Office, has been viewed in Europe as an important shift from Washington. When asked if he was done with Putin, the president replied: 'I'm disappointed in him, but I'm not done with him. But I'm disappointed in him. 'We had a deal done four times and then you go home and you see just attacked a nursing home in Kyiv. And so what the hell was that all about?' Asked if he trusted him, he said: 'I trust almost nobody, to be honest with you.' Sign up to First Edition Our morning email breaks down the key stories of the day, telling you what's happening and why it matters after newsletter promotion Trump also said he strongly supported Nato, saying that rather than being 'obsolete' as he had previously said, it was now 'becoming the opposite of that'. He said it was 'very unfair because the United States paid for almost 100% of it, but now they are paying their own bills.' Asked if he believes in Nato's fundamental Article 5 on collective defence, he said: 'I think collective defence is fine.' But he later added that he believed Britain was one of the only countries that would come to the aid of the US if needed. 'One of the problems with Nato was, we have to fight for them but will they actually fight for us if we had a war? And I will say this, I believe that the UK would fight with us. It's just been so many years and I really think the relationship is just a really good one.' In the interview, Trump also reflected on the attempted assassination of him, which the BBC journalist Gary O'Donoghue witnessed at a rally in Butler, Pennsylvania, last July. 'We had 55,000 people, and it was dead silence. And so, you know, I assumed that they expected the worst,' he said. 'And so I had to let them know I was OK, which is what I did. That's why I tried to get up as quick as possible. They had a stretcher ready to go. I said: 'No, thank you.' I actually had a big argument with them. They wanted me on a stretcher. And I said: 'Nope, I'm not doing that.'' Trump said he did not like to spend time thinking about that day – but acknowledged it could affect him deeply if he started to dwell on it. He said: 'I like to think about it as little as possible. 'I don't like dwelling on it, because if I did, it might be life changing. I don't want it to be that.'
