As Australia’s red meat and wine sectors face the threat of US tariffs, the federal government has stepped in to protect the nation’s lucrative export industry.
The Labor government has set aside $6.8 million in the federal budget to maintain international market access for agricultural goods over the next year.
The funding will help Australian officials contribute to global fair trade standards and ensure the smooth flow of goods, according to the 2025/26 budget papers released on Tuesday night.
“These functions support the stability of Australia’s international agricultural trade position in a more uncertain geopolitical and international trading environment,” the regional ministerial statement said.
Budget documents showed the production value of agriculture, fisheries and forestry was projected to be worth $98 billion in 2025/26 – the third highest on record – with about 70 per cent of goods exported.
Several independent agricultural industry outlooks have identified the red meat and wine sectors as having the highest exposure to possible export tariffs that could be introduced by US President Donald Trump.
The war in the Ukraine, conflict in the Middle East and changing shipping routes due to piracy threats are further adding to international trading uncertainty.
The budget also set aside nearly $24 million over three years for regional trade events, including a doubling of funding for Beef Australia to $12 million.
“Trade events bring regional communities together and enable remotely located producers to share innovative ideas and attract economic activity,” the budget statement said.
Weeks after fire ants were spotted on the move in floodwaters from ex-tropical cyclone Alfred, the government has extended its $49 million in biosecurity funding from previous budgets.
It has set aside $11 million over the next year to help producers reduce and prevent the effects of established pests and weeds.
The budget also locked in its $3.5 million food security strategy, which aims to strengthen productivity and supply chains, as urged by the National Farmers’ Federation.
“Australia’s food security and resilience is more important than ever, particularly in regional communities where the risk of food insecurity is increasing,” the budget statement said.
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