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NYSE:BRFS 2 January 2026

China’s 55% beef tariff hits Australia as China caps imports for 2026

China’s 55% beef tariff hits Australia as China caps imports for 2026

China will charge an additional 55% tariff on beef imports that exceed new country quotas, tightening access for Australia and other major suppliers under a three-year safeguard system that began at the start of 2026. For 2026, China set quotas of 1.1 million metric tons for Brazil, 205,000 for Australia and 164,000 for the United States, and said the limits would rise gradually each year. South China Morning Post Australia exported more than 295,000 metric tons of beef to China in the first 11 months of 2025, and the Australian Meat Industry Council said the new settings could cut those exports by about a third and cost the sector about $1 billion. China’s commerce ministry set a combined 2026 quota of 2.7 million metric tons for countries covered by the measures and said the system would run for three years from Jan. 1. Brazil said it would work with China bilaterally and through the World Trade Organization to mitigate the impact. ABC

Stock Market Today

  • Principal Financial (PFG) Edges Toward 52-Week High After 36.6% Rally
    June 30, 2026, 2:14 PM EDT. Principal Financial Group (PFG) stock closed at $108.51, just shy of its 52-week high at $112.45 after jumping 36.6% over the past year. That move easily topped the industry average gain of 1.3%. Strong retirement services growth, $770 billion in assets under management, and steady capital reserves have driven the stock higher. PFG's forward P/E comes in at 11.08-above the 9.12 industry average-which suggests investors are pricing in solid prospects. Analysts are projecting EPS growth of 13.3% for 2026 and 9.1% for 2027, with gains expected to come from fee-based and risk businesses. Other companies in the space like CNO, MetLife and Radian have shown smaller gains. Principal's outlook remains upbeat as retirement and insurance units continue to perform.
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