Why Australia-China trade war truce may not last

Finally, Australia's rock lobster industry will be able to export to China again, following a deal struck on the sidelines of the ASEAN summit in Laos last week. It will take some weeks to finalize the paperwork but Chinese diners can expect to eat our high-quality crustaceans as we devour our Christmas roast turkeys. The breakthrough brings a particularly nasty chapter in Australia-China trade relations to a close. Tariffs on rock lobsters were the only remaining major restriction of a raft of trade barriers imposed by China in 2020. It might be tempting to celebrate, but we should tread carefully. Our situation remains hostage to Beijing's relationship with Washington. Whether Australia's trade woes with China are actually over may ultimately be out of our hands. Australia's reversal of fortunes The past couple of years have been a whirlwind. The Albanese government has seen China systematically undo the export restrictions it had imposed on Australia in 2020 – including on ...