China says to impose 55% levy on Australian beef after quota hit

China says to impose 55% levy on Australian beef after quota hit

China said on Friday it will impose a tariff of 55 percent on beef imports from Australia after shipments from the country hit Beijing’s annual limit. Australian beef products. Photo: David Gray/AFP. The price of beef in China has trended downwards in recent years, with analysts blaming oversupply and a lack of demand as the world’s second-largest economy has slowed. At the same time imports have surged, with China representing a hugely importan…