Australia likely to trigger Korea safeguard tariff early

Australia appears on track to trigger South Korea’s beef safeguard earlier than usual in 2026, with less than two months of trade completed. By February 20, 45.6% of Australia’s annual quota of 196,050 tons had already been utilized, leaving roughly 106,000 tons available for the remainder of the year.

January shipments — including product carried over from late 2025 — accounted for 23.6% of the annual allocation. Australia captured a 53% share of Korea’s total beef imports in January, with record shipments of 46,290 tons, up 39.3% year-on-year.

The accelerated pace reflects strong Australian production, limited export availability from the United States and a recovery in Korean beef consumption. Once the quota is filled, Australian beef will face a 24% out-of-quota tariff.

Although the in-quota tariff has declined from 8% last year to 5.3% in 2026 — and will continue falling to zero by 2028 — the risk remains that the safeguard will be triggered much earlier than in previous years. Analysts also note that if China’s safeguard fills, displaced Australian volumes could flow into Korea, further accelerating quota usage.

Source: Beef Central.