DISPUTE TARIFF
At the top of a contentious conflict with Australia’s former conservative authorities, China imposed tariffs on important American exports like wheat, beef, and wine in 2020, flexing its financial muscle.
Additionally, it stopped the importation of some of Australia’s most important goods, such as fuel, which reduced trade by billions of dollars.
Australia’s laws prohibiting Huawei from 5G agreements and its demand for an independent investigation into the causes of the COVID-19 crisis had infuriated China.
After Australia’s center-left government, which was elected in May of last year, adopted a less aggressive stance, many of those business barriers have been gradually loosened.
China agreed to continue receiving shipments of Australian fuel this year, ended an import ban on American timber, and reduced barley tariffs.
According to Albanese, China will do an” extended review” of its tariffs on American wine over the following five months.
If” the duties are not removed at the end of the review ,” he added, Australia has threatened to resubmit complaints to the World Trade Organization.
ADDITIONAL Conflicts
On political flanks, there has also been advancement, with China earlier this month approving the release of American journalist Cheng, a former outlet for Taiwanese state broadcaster CGTN.
China was urged to uphold” basic standards of fairness, legal fairness, and humane treatment” by Australia’s government, which had long advocated for her release.
According to recent economic data from Beijing, the nation’s post-COVID treatment is sluggish and progress is slowing, putting pressure on the conditions of its international trade agreements.
As Chinese President Xi has adopted a more rational political stance with global partners, tensions with Canberra have decreased.
In a meeting with Albanese on the outside of the G20 summit in Indonesia in November 2022, Xi had urged relations with Australia to” increase.”