TSBE Emphasises Market Diversity Amid Tariffs

Amid the US Governments announcement of sweeping tariffs on goods from countries across the globe, including 10% tariff on Australian beef, sheepmeat and goatmeat, red meat producers in our region remain confident in the strength of their industry.

The Darling Downs and Surat Basin region is a major red meat producing area, home to the largest beef cattle feedlot and processing industry in Australia, accounting for 60 percent of the country’s grain-fed beef production – the region plays a pivotal role in global supply.

Toowoomba and Surat Basin Enterprise (TSBE) acknowledges the challenges posed by the new tariff but remains confident in the strength of Australian agriculture.

The agricultural sector in Australia has consistently shown resilience against various challenges, including trade issues, biosecurity threats, and natural disasters. Known for its efficiency and productivity, the industry continues to thrive.

Australia's high-quality red meat remains in strong demand globally, with record exports to over 100 countries in 2024.

The US was Australia’s largest red meat export market in 2024, worth $6.07 billion, and accounted for almost one third of Australia’s total global exports.  Despite the tariff, the beef trade between Australia and the United States is set to remain one of our strongest export relationships over the next 18 to 24 months. As the tariff is applied universally across the globe, Australian beef continues to compete on a level playing field in the US market. The demand for Australian red meat remains very strong and we maintain favourable market access conditions with over 85 percent of red meat exports still benefit from free trade agreements.

As the global market outlook for Australian red meat remains robust, TSBE is dedicated to supporting its members and working with government and industry stakeholders to maintain competitiveness. This includes strengthening our presence in international markets and expanding export opportunities through targeted trade missions, including an upcoming delegation to the European Union.

In addition, there is focus on diversifying into Australia’s other major markets including China, Japan and Korea, worth $9 billion collectively. The Middle East and North African market is worth $2 billion and offers demand growth opportunities.

Our priority remains ensuring that our agribusiness sector continues to thrive through strategic market expansion and advocacy.