Beijing will impose 55% tariffs on shipments exceeding the set quotas, according to the country’s commerce ministry.
- China sets quotas on beef imports after months-long investigation
- Shipments exceeding quotas face a 55% tariff, says commerce ministry
- Move aims to support domestic prices and protect local farmers
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Let us know.China set quotas for imports of beef following a months-long probe, restricting flows to the world's top importer of the protein.
Beijing will impose 55% tariffs on shipments exceeding the set quotas, according to the country's commerce ministry.
The trade move, put in place to bolster domestic prices and protect local farmers, could help ease global beef prices that have otherwise surged to a record high amid strong demand and tight supplies in other key regions, including the US, a top consumer.
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