President Donald Trump said the U.S. will sell "so much" beef to Australia after Canberra relaxed import restrictions on Thursday, but economists and traders said high prices and tight supplies make major American exports unlikely.

To put it in perspective, Australia exported over 400,000 tonnes of beef to the US last year, while the record for US beef exports to Australia peaked at just 290 tonnes back in 1994-95. Last year, the figure was just 270 tonnes.

“After many years Australia has agreed to accept American Beef !” Trump wrote on Truth Social.