“After many years, Australia has agreed to accept American Beef!” Trump said on social media after threatening Canberra with tariffs on beef shipped to the US, one of its largest red meat markets.

While unveiling his “Liberation Day” tariffs in April, he singled out Australia, accusing the close ally of banning American meat while cashing in on exports to the US.

“For a long time, and even though we are great friends, they actually banned our Beef. Now, we are going to sell so much to Australia,” Trump said on his Truth Social platform.

The office of the US trade representative said the development “marks an important moment for the US-Australia trade relationship and a historic win for US ranchers”.

US trade representative Jamieson Greer hailed it as a “major milestone in lowering trade barriers.”

Trump has announced 10% baseline import duties on Australia as part of his raft of tariffs against friend and foe alike.

Australian Prime Minister Anthony Albanese has been unusually frank in his condemnation of Trump’s trade war, calling the levies “unwarranted.”

Australia’s stringent biosecurity rules have for years blocked imports of cattle slaughtered in the US, but born in Canada or Mexico.

However, Canberra’s agriculture minister Julie Collins said the US had adopted new quality controls that soothed its worries.

Almost 5% of all the beef eaten in America is Australian, and that largely goes into burgers.