China lifts the rock lobster ban, bringing an end to the Australian trade barrier

Published 2024년 12월 20일

Tridge summary

China has lifted its ban on Australian live rock lobster imports, marking the end of trade restrictions against Australia, including tariffs on over $12 billion worth of exports, following a diplomatic rift. This development is significant as it resolves the last of the trade barriers, including previous impediments on wine, barley, coal, cotton, timber logs, oaten hay, copper ores and concentrates, and red meat. The lobster trade, worth $500,000 annually, will allow producers to apply for import permits. The removal of these restrictions could positively impact Australia's trade relations and Prime Minister Albanese's political standing, especially ahead of the 2025 election, given the importance of lobster producers in Western Australia.

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

Original content

SYDNEY: China has lifted a ban on imports of Australian live rock lobsters, Canberra said on Friday (Dec 20), demolishing the final barrier in a broader, multibillion-dollar trade war between the countries. Beijing has banned or slapped retaliatory tariffs on more than US$12 billion worth of Australian exports, from wine to timber, during years of soured ties with Canberra. The lobster trade, worth US$500,000 a year, was the last of a number of major Australian exports to remain under sanctions after months of Australian diplomatic efforts. "China has confirmed that our live rock lobster exports can recommence into China," Agriculture Minister Julie Collins told reporters. "This is great news for our live rock lobster producers and fishers here in Australia, and importantly, it means that they can now apply for import permits to go back into this market." Lobsters were the "last of those trade impediments" imposed by China, she added. China introduced a de facto ban on live rock ...

Source: Channelnewsasia