Treasurer Jim Chalmers has praised recent trade developments with Beijing – but warned that the complex relationship is not without issues.
Following a souring of the relationship, China slapped a series of trade tariffs and out-right bans on Australian products including wine, beef, coal and barley between 2020 and 2021.
Picture: NCA NewsWire / Martin Ollman “And we've made it really clear that we want to see those restrictions lifted, we think it's in the interest of both countries, frankly, for those restrictions to be lifted. The wine industry, for example, was heavily affected, with exports plunging from $1.3 billion in 2019 to only $12 million in 2022, due to massive tariffs of up to 218 per cent.
“And so clearly, we monitor these things closely but we welcome the progress that has been made in the last week or so.
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