AustraliaBusinessChina

Australia vows to drag China to WTO over barley tariffs amid mounting trade tensions in between the two nations

Canberra might file a protest to the World Trade Company (WTO) over Beijing’s anti-dumping duties on barley, Australia’s trade minister said as a tariff disagreement in between the two powers escalates.

” I expect that will be the outcome,” Trade Minister Simon Birmingham said in an interview with broadcaster ABC on Sunday when asked whether a WTO case over barley is possible. ” We are resolving precisely when and ensuring we have the evidence lined up.”




Also on rt.com
Beijing slaps up to 212% tariffs on Australian wine in reaction to price-dumping



China, which is the largest export market for Australian barley, enforced over 80 percent in tasks on the item in May over findings that it was being dumped in China, harming domestic manufacturers.

The trade minister said that Australia has actually already voiced concerns over the ” accumulation of instances from China of unfavorable trade decisions” at the conference of the WTO’s trading products committee last week.

Learn More

China looks to Mongolia for coking coal after banning Australian imports

” We do see those as an extremely concerning development. We are calling them out through the WTO, while likewise still using all of those processes in the Chinese system to try to resolve them,” Birmingham noted.

Barley is not the only product caught in the simmering dispute in between Canberra and Beijing. Beijing formerly halted deliveries of Australian coal, with imports worth AU$700(US$516) million believed to be obstructed from Chinese ports. China likewise banned some beef deliveries from Australia and slapped responsibilities of over 200 percent on Australian white wines citing disposing as the reason. The relocation is set to hit Australian white wine exporters hard with their most significant market at stake.

However, other curbs such as on white wine will not undergo a possible WTO case, yet anyway, Birmingham stated. He called China’s move on white wine an “interim application of tariffs” and said that it could be still worked through China’s domestic procedures.

Stress between the two nations have actually been escalating for the previous three years, specifically after Canberra banned China’s Huawei and ZTE from its 5G rollout. The scenario aggravated after Australia required an international inquiry into the origins of the coronavirus break out.

Canberra hoped tensions with Beijing would alleviate after the 2 nations became part of among the world’s biggest free trade zones. On November 15, ten ASEAN countries and five other Asia-Pacific nations signed an enormous trade offer called the Regional Comprehensive Economic Partnership (RCEP). The accord covers some 2.2 billion people with a combined market size of $262 trillion or 30 percent of the world’s gdp (GDP).

For more stories on economy & financing visit RT’s company area

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Close