US President Donald Trump slashes US beef tariffs in major boost for Australian farmers

Australian cattle farmers could be the major winner, as the Trump administration announces cuts to a key tariff.

In a cost-of-living move ahead of November’s midterm elections, President Donald Trump announced the country will cut tariffs on 300,000 metric tons of product over the next three months.

“We have a commitment that this beef will be sold at 25 per cent below current market prices,” he wrote on Truth Social.

“This deal will reduce prices for Americans while giving space for our Great American Beef Herd to grow again.”

In comments to the press after the announcement, Mr Trump did not go into details as to how his plan would be implemented and did not name the countries who would supply the beef.

“I don’t want to say which countries – though there are a few countries – but they are going to be sending in the highest quality beef and it is something that we need.”

Last year Australia exported more than 410,000 tonnes of beef to the United States, up 17 per cent, becoming a major winner out of Trump’s tariff policy due to various restrictions and supply issues for South American trading partners.

This was despite the President singling out Australian beef producers during a speech on April 2 2025, where Mr Trump announced wide ranging tariffs dubbed Liberation Day, arguing it would level out the playing field with trading partners.

“Australia bans – and they’re wonderful people, and wonderful everything – but they ban American beef,” President Trump said.

“Yet we imported $3bn of Australian beef from them just last year alone.

“They won’t take any of our beef. They don’t want it because they don’t want it to affect their farmers. And you know, I don’t blame them, but we’re doing the same thing right now starting at midnight tonight.”

Mr Trump never banned Australian beef, but did place the baseline tariff on 10 per cent on all exports.