Today’s signing of the TPP-11 delivers extra outcomes for Australian exporters that will help create new Australian jobs. Australian beef will benefit from further tariff cuts in a new bilateral agreement the Turnbull Coalition Government secured with Canada through a side letter.
Canada will eliminate its 26.5 per cent tariff on Australian beef imports over five years, instead of the 10 years agreed under the original TPP deal. This will help sell more Australian beef to Canada, already our eighth largest beef export destination in 2017.
Today’s additional outcome adds to the already strong beef export opportunities created under TPP-11. This includes Mexico’s agreement to eliminate all beef tariffs (over ten years), and Japan’s agreement to accelerate the reduction of its 38.5 per cent tariff on our beef exports to 9 per cent (within 15 years), building upon our existing access to the Japanese market under the Japan- Australia Economic Partnership Agreement (JAEPA).
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