China has announced that it will remove the three-year-old tariffs on Australian barley imports, which had a significant impact on commerce in the billions of dollars.
Anthony Albanese, the prime minister of Australia, praised the decision.
Canberra also announced that it will halt its World Trade Organization (WTO) complaint involving Beijing’s barley import taxes.
Australia this week extended a visit invitation to China’s new foreign minister as another indication of the warming of relations between the two countries.
According to the China Ministry of Commerce, the taxes will be eliminated beginning on Saturday.
According to China’s commerce ministry, it is no longer required to levy anti-dumping and countervailing taxes on imported barley from Australia due to developments in the country’s barley market.
The Australian government calculated that barley exports to China were worth an average of A$1.2 billion ($790 million; £620 million) annually before the tariffs were implemented.
Beijing slapped tariffs in 2020 on important Australian exports such barley, cattle, and wine as well as unofficial limitations on the export of lobster and meat from specific abattoirs.
Beijing is currently being urged by Canberra to remove tariffs on Australian wine, which is the subject of a different WTO case.
When China slapped high tariffs on its exports in 2020, thereby cutting off what was formerly its most lucrative market, Australia’s wine sector was severely hampered.
When then-Prime Minister Scott Morrison demanded a global inquiry into the origins of Covid-19 in 2020, relations between Australia and China significantly deteriorated.
Communications have begun and their relationship has improved after the center-left Labor government was elected in May 2022.
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