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

Barley

China

Australia

Published Feb 28, 2021

Tridge summary

[Epoch Times February 28, 2021] (Epoch Times reporter Zhang Ting comprehensive report) China-Australia relations have fallen to the 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 limited impact on 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 into 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 then launched a trade action to curb imports 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 to 70% of their crops to China. Despite the high tariffs hit by the CCP, most of the industry has withstood the impact of tariffs. Barley exports have increased and there have been very few bankruptcies. This shows that the CCP’s trade pressure has limited impact on certain industries. It is expected that Australia’s total barley exports will increase within 12 months of October 2021. 64%. Traders have sought to sell in other large markets such as the Middle East, but this also brings a painful trade-off: Middle Eastern consumers mostly use barley as livestock feed instead of making beer, and the price is usually lower.

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