Australian exporters are withstanding China’s trade penalties imposed on farmers and coal miners, by successfully redeploying their products to other foreign markets.
, by successfully redeploying their products to other foreign markets, according to the federal government’s Australian Trade and Investment Commission.
The Japanese port of Yokohama. Japan is one of the nations taking more of Australia’s export trade since rising tariffs imposed by China forced many Australian businesses to find new markets.A survey by Austrade of predominantly small and medium business exporters found that 51 per cent of firms reported being disrupted by restrictions imposed on their goods or services by destination markets, with China, Japan, South Korea and Vietnam the major protectionist culprits.
“Despite COVID, supply chain disruptions and the trade disputes we had, Australia’s trade has come out looking pretty healthy,” Ms Murphy said.“The fact we are big goods exporters of resources and agriculture has been to our benefit, but our services exports have been very weak.Agricultural exports to China fell 31 per cent in the first half of 2021, compared to the same period in 2020.
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