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China To Australia…You wanna play geopolitical games along side the US, then take that, take that: China imposes 80% tariff on Australian barley for next five years which is expected to wipe out Australian sales into the lucrative market
China imposes 80pc tariff on Australian barley for next five years amid global push for coronavirus investigation
By political reporter Dan Conifer
China has imposed a massive 80 per cent tariff on Australian barley imports from today, saying the product has been imported against trade rules.
Key points:
- Barley is considered one of Australia’s top three agriculture exports
- Annual trade with China was estimated to be worth $1.5 billion in 2018, but fell to $600 million in 2019 due to drought
- The Federal Trade Minister said Australia was “deeply disappointed” by the news and “rejected the basis of this decision”
The import tax will remain in place for five years, and is expected to wipe out Australian sales into the lucrative market.
Typically, at least half of Australia’s barley exports would be bound for China, trade that was estimated to be worth $1.5 billion in 2018 but due to drought fell to $600 million in 2019.
In a statement announcing the decision, China’s Ministry of Commerce said its “domestic industry had suffered substantial damage”.
“The Ministry of Commerce conducted an investigation in strict accordance with China’s relevant laws and regulations.”
It said the anti-dumping tariff would be 73.6 per cent, while the anti-subsidy tariff would be 6.9 per cent……more here
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