Growing frustration after dumped wine prices

Growing frustration after dumped wine prices

Australia’s relations with China, the country’s most important trading partner, have fallen to a new low. The deterioration in relations is largely due to Australia’s demand for an independent inquiry into the origins of the corona pandemic. Most recently, the Australian wine industry has been affected.

“We reject all allegations that we are dumping the price of Australian wine on the Chinese market,” said Australian Trade Minister Simon Birmingham.

China accuses Australia to dump the price of wine exported and sold in the country. If they are correct, it violates the trade rules between the countries. This is a very worrying message for Australian winemakers. China buys a third of all wine exported from Australia.

China’s latest move comes when relations between the countries are already at the bottom and is one in a row that the country has implemented since Australia earlier this year backed the demand for an independent investigation into the origin of covid-19. The announcement prompted China’s ambassador to Australia to call for a Chinese boycott of Australian goods and services.

In May, China introduced high tariffs on Australian barley. A few days later, China struck again, stopping meat imports from Australian slaughterhouses.
About a third of Australia’s agricultural exports are sold to China, and Australian farmers have not been so dependent on a single market since the 1950s, so exporters are nervous.

In connection with the recent unrest between the two countries, the Australian Federal Government has presented a new bill that could give the government the power to block business that states, territories, local authorities and universities enter into with other countries.

Without mentioning China Specifically, Australian Foreign Minister Marise Payne told Channel 9 television that it was in the interest of the whole nation that all agreements signed with other countries be in line with Australia’s security and foreign policy.

Officially, the Australian government does not say that there is a trade war with the countries, but it is clear that there is a growing frustration on the part of Australia for the unexpected and sporadic sanctions on the part of China.

Source: ICELAND NEWS


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