China will impose additional 55% tariffs on beef imports from countries including Brazil, Australia and the U.S. when shipments exceed certain quotas, a major blow to key global suppliers as the domestic industry grapples with a supply glut.

China will impose additional 55% tariffs on beef imports from countries including Brazil, Australia and the U.S. when shipments exceed certain quotas, a major blow to key global suppliers as the domestic industry grapples with a supply glut.