AUSTRALIAN beef exports to South Korea have triggered the country’s annual Safeguard mechanism.
The Safeguard provision in Australia’s bilateral Free Trade Agreement with Korea is designed to protect the Korean domestic beef industry from unusual rises in volume of imported beef in any given year.
The mechanism was officially triggered on 8 December, when 2023 export volume reached 184,742 tonnes.
With only three weeks trade remaining in the 2023 year, impact on trade will be moderate – but still, all remaining Australian imports cleared by Korean Customs before 31 December will be…
