China drops tariffs on Australian barley as tensions ease

China drops tariffs on Australian barley as tensions ease

AFTER years of tensions and a trade war that affected billions of dollars in trade, China’s commerce ministry said it is no longer necessary to impose tariffs on the imported barley originating in Australia.

Tariffs on Chinese barley will be dropped starting on Saturday, according to China’s Ministry of Commerce.

Canberra for its part said it will drop the case at the World Trade Organization (WTO) over Beijing’s duties on barley.

Australia’s Prime Minister Anthony Albanese welcomed the move as a sign of improving the relationship between the two major trading partners.

Australian Foreign Minister Penny Wong welcomed the announcement, which she said would benefit both Australian producers and Chinese consumers.

Australia also called on China to drop tariffs on Australian wine.

Bitter dispute urged Beijing to impose hefty tariffs on Australian exports of barley, beef and wine, and other key commodities in 2020.

Australia this week also invited China’s new foreign minister to visit the country as diplomatic tensions ease between the two sides.

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