Tariffs of 12-25 per cent on beef will be eliminated over 9 years;
Meat and Livestock Australia, and the Australian Meat Industry Council, representing processors says that it has the potential to increase the gross value of beef production by $270 million annually by 2024. Out to 2030, the total benefits for beef will approach $3.3 billion.
Skins, hides and leather exports to China, worth $896 million today, attract a tariff of five to 14 per cent, and those tariffs will be eliminated over the next two to seven years.
China is the dominant market for skins, taking 80-90 per cent of Australia's exports.
The FTA is calculated to be worth an additional $436 million a year to hides, skins, offal sector by 2024 – and out to 2030, these benefits could total $6 billion
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