China says to impose extra 55% tariffs on some beef imports

The price of beef in China has trended downwards in recent years, with analysts blaming oversupply and a lack of demand as the world's second-largest economy has slowed. At the same time imports have surged, with China representing a hugely important market for countries such as Brazil, Argentina and Australia. Investigators found beef imports had damaged China's domestic industry, Beijing's commerce ministry said in a statement. The probe covered fresh, frozen, bone-in and boneless beef. The...