China ditches Australian barley tariffs after long-running trade war
China ditches Australian barley tariffs after long-running trade war
China has dropped its 80 per cent tariffs on Australian barley, after a long-running and high-profile trade war between the two nations.
This is the best summary I could come up with:
The tariffs set off a trade war between the two nations and were widely considered to be a form of retaliation for Australia’s call for an inquiry into the origins of COVID-19.
At the height of the trade in 2018, Australia's barley exports to China were valued around $1 billion, which drew to a standstill once the tariffs were applied.
National Farmers Federation chief executive, Tony Mahar said that the scrapping of the tariffs was welcome news for some 23,000 Australian grain producers.
Foreign Affairs Minister Penny Wong said that the removal of the tariffs was the result of work from both government and industry describing it as a "great success for our nation and barley producers".
Trade Minister Don Farrell said the Australian barley industry had suffered a large financial loss since the introduction of the Chinese tariffs in 2020, estimating it to be around $1 billion dollars annually.
"Our barley growers and our exporters will now be able to re-enter tariff-free to the Chinese market," he told a press conference in Adelaide on Friday.
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