Australian beef industry looks like a tariff winner

"They won't take any of our beef," he said of Australia, which has banned US beef due to mad cow disease concerns for over two decades. "I don't blame them. But we're doing fine, outstanding right now, starting at midnight tonight."

- PETER HOBSON

But Australia's beef industry is feeling relieved, as Trump's 10% tariff on the country's products is not enough to shrink its exports to the United States, running at record levels and nearing $275 million a month, industry insiders said.

Meanwhile, US-EU tariff impasses by China, along with new legislation regarding net review the local regulations of hundreds of US meat facilities, threaten US beef exports to China worth around $125 million a month, giving Australia and others such as Brazil, Argentina and New Zealand an opportunity to increase their shipments.

"I'm not too stressed by 10%," said Andrew McDonald, whose Bindaree Food Group runs meat processing facilities in Australia and ships beef to the United States.