Australia's ties with its top trading partner, China, soured in 2018 when it became the first country to publicly ban Chinese Huawei from its 5G network and deteriorated after Canberra called for an investigation into the origins of the coronavirus.
Since then, open diplomatic repression has followed, including raids on Chinese journalists' homes in Australia, the evacuation of some Australian journalists from China, and a series of trade measures China has imposed on Australian exports.
According to the International Monetary Fund (IMF), China is by far Australia's largest export market, with a value of $ 104 billion in 2019, so a prolonged trade severance could wreak havoc on the Australian economy.
The latest measures have been hit hardest by Australia's billions of dollars of beef, barley and coal, and China has been able to easily find alternative supplies.
NOVEMBER 2020
China rejects Australia's call for an end to anti-dumping and anti-subsidy duties, which account for 80.5% of barley exports.
Beijing has banned the supply of barley to the Australian grain exporter Emerald Grain, owned by Japan's Sumitomo Corp.
Australia has cut off supplies of stone lobsters to leading markets in China after Beijing introduced new live seafood inspections that include checks for traces of minerals and metals.
China's Foreign Ministry said Chinese customs have repeatedly identified biohazards in Australian timber following media reports that Beijing has suspended timber imports from northeastern Queensland in Australia.
China's foreign ministry said the cut in imports of Australian goods such as wine, coal and sugar was a result of buyers' own decisions after media reports reported that Beijing had warned importers to stop buying a number of Australian goods.
Tensions between China and Australia over commodity trade
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Azovpromstal® 4 November 2020 г. 11:27 |