China's retaliatory tariffs have limited impact as Australian barley exports increase

Published 2021년 2월 27일

Tridge summary

Since last year, Sino-Australian relations have deteriorated, leading to high tariffs by China on Australian agricultural products, including barley. Despite this, Australian farmers have managed to mitigate the impact by exploring new markets, with barley exports expected to increase by 64% in the next 12 months. Other industries such as wine and aquaculture are also diversifying their markets to reduce vulnerability to future diplomatic disputes with China. The Australian government is also supporting countries that have been subjected to punitive tariffs by China, including Australia, to resist Beijing's counterattacks. The Chinese government's use of its domestic market as a bargaining chip for foreign policy goals has been highlighted in a report by the Australian Institute for Strategic Policy, with the coal market showing that this strategy may be counterproductive.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

[Epoch Times February 28, 2021] (Epoch Times reporter Zhang Ting comprehensive report) Sino-Australian relations have fallen to a bottom since last year. The CCP has imposed high tariffs on Australian barley and other agricultural products in retaliation, but the Wall Street Journal said These measures in Beijing have only limited the blow to Australian farmers. They have opened up new markets and inspired other areas to take similar actions. In April last year, the Australian government requested an international independent investigation of the Chinese Communist virus (coronavirus), which angered the CCP. China and Australia immediately fell into a diplomatic quarrel. The CCP threatened economic boycotts, but Australia said it would not succumb. The CCP subsequently launched a campaign to curb the import of Australian beef, wine and coal, especially the levy of up to 80% on Australian barley. According to the Wall Street Journal, Australian barley farmers previously exported up ...

Source: Epochtimes