Prices of Australian Beef Set to Fall

  • Arirang News

    December 12, 2014 11:50

    Cheaper beef is set to hit shelves here starting Friday as the bilateral free trade agreement with Australia takes effect.

    Korea's trade ministry said the current tariff of 40 percent drops by nearly 3 percentage points and will continue to be lowered gradually over a 15-year period.

    Watchers expect to see a more noticeable and immediate effect on the prices of Australian wines, as the 15 percent import tax is eliminated all at once on Friday.

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