After a long-running trade dispute between Australia and China, China has agreed to scrap 80 per cent tariffs on Australian barley.
The tariffs were initially imposed in May 2020 when China accused Australia of selling barley below production cost and subsidizing farmers. This action triggered a trade war between the two countries and was seen as a retaliatory measure against Australia’s call for an investigation into the origins of COVID-19.
In response to the tariffs, Australia referred China to the World Trade Organization in December 2020. However, earlier this year, the appeal was suspended when Beijing agreed to review the tariffs.
Trade Minister Don Farrell and Foreign Affairs Minister Penny Wong are expected to hold a press conference in Adelaide today to address the development.
This move marks a significant step in resolving the trade dispute and could have implications for the economic relationship between Australia and China.
