No immediate breakthrough in China trade dispute but ‘good signs’, trade minister says

No immediate breakthrough in China trade dispute but ‘good signs’, trade minister says
There has been no speedy breakthrough in Australia’s ongoing commerce dispute with China however the scenario is “heading in the right direction”, Trade Minister Don Farrell mentioned.
Upon returning dwelling from a current journey to Beijing, Farrell mentioned that whereas his tour was “warm and engaging”, tariffs imposed on Australia “won’t be resolved overnight”.

“It was a very, very warm and engaging meeting, a candid meeting with the Trade Minister,” Farrell mentioned on Today.

Upon returning dwelling from a current journey to Beijing, Farrell mentioned that whereas his tour was “warm and engaging”, tariffs imposed on Australia “won’t be resolved overnight”. (Sydney Morning Herald)

“We’ve explained just how much damage these tariffs and other bans have done to our trading relationship and we’ve asked for the Chinese government to lift these bans.

“There are some good indicators, Australian cotton is again into Chinese markets, identical with copper.

“We’re well down the track of resolving the dispute over barley, and of course we’re going to use the processes that we developed to resolve the barley dispute with wine.”

Farrell mentioned the method is happening incrementally, and vital progress is anticipated throughout the subsequent two months.

Australian wine exports to China have collapsed after Beijing imposed a hefty tariff.
Australian wine exports to China have collapsed after Beijing imposed a hefty tariff. (AP/File)

“The problems didn’t occur overnight,” he mentioned.

“They won’t be resolved overnight, but we’ve got to persevere and persist – that’s my job.

“The barley dispute, we count on to be resolved within the subsequent month or two.

In 2020, China imposed an 80.5 per cent mixed tariff on Australian barley exports in as relations between Canberra and Beijing hit a low level. (JAMES DAVIES)

“That’s well down the track – all of the information I got from the ambassador and our officials in Beijing was very, very positive.

“But we’re working via every of the problems.”

In 2020, China imposed an 80.5 per cent combined tariff on Australian barley exports in as relations between Canberra and Beijing hit a low point.

Since then, Chinese authorities have also imposed trade sanctions on other Australian good such as coal, wine and seafood.

Sign up right here to obtain our every day newsletters and breaking news alerts, despatched straight to your inbox.

Source: www.9news.com.au