China to End Tariffs on Australian Barley After Three Years, Boosting Trade
China announced plans to lift tariffs on Australian barley imports, marking a significant development in the trade dispute between the two countries.
The move, welcomed by Australia’s Prime Minister, signals a thaw in relations. Australia, in return, will suspend its case at the World Trade Organization over Beijing’s duties on barley.
The decision comes amid efforts to mend ties, including an invitation for China’s foreign minister to visit Australia. Before the tariffs, barley exports to China were valued at billions of dollars annually.
The removal of tariffs is seen as a positive step, but Australia continues to push for the lifting of tariffs on wine, which remains a contentious issue.
Overall, the move represents progress in restoring trade relations between the two nations.
Credit: Information sourced from BBC.
https://www.bbc.com/news/business-66402220