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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Politics

Politics

China removed its 80.5% tariffs on Australian barley

Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourne, October 11, 2023. AAP Image/Joel Carrett via REUTERS/File Photo
Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourn... Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourne, October 11, 2023. AAP Image/Joel Carrett via REUTERS/File Photo
Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourne, October 11, 2023. AAP Image/Joel Carrett via REUTERS/File Photo
Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourn... Australian Prime Minister Anthony Albanese speaks to media following a Ministry Meeting, in Melbourne, October 11, 2023. AAP Image/Joel Carrett via REUTERS/File Photo

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China removed its 80.5% tariff on Australian barley. After a time of extremely tense relations, Prime Minister Anthony Albanese will make history on Saturday by being the first Australian leader to visit China in seven years. His goal is to improve communication and stabilize relations.

However, there are still challenging problems separating the two essential trading partners. Albanese stated he will bring up worries about the growing tension in the South China Sea when he meets with President Xi Jinping on Monday in Beijing.

A chronology of Australia-China ties in recent years is provided below.

November 17, 2014: After ten years of talks, Australia and its leading trading partner, China, signed a historic free trade deal. It takes effect at the end of 2015.

December 5, 2017: Australia prohibits foreign political donations to stop outside influence in its politics due to concerns about Chinese influence.

June 9, 2020: Citing racist occurrences, China threatens a $27.5 billion market for teaching international students and advises students considering studying abroad to carefully consider their options before selecting Australia.

August 2020: Cheng Lei, an Australian national, is arrested while working as a business anchor for Beijing’s official television.

November 27, 2020: China would apply temporary anti-dumping charges to Australian wine. During this period, Australian live lobster shipments, as well as those of lumber and barley, are either stopped or limited. The 14 complaints listed by the Chinese embassy in Australia include the rejection of ten Chinese investments due to concerns about national security.

December 2020: Australia expresses concern to the WTO on China’s actions to limit or prohibit the export of Australian coal, cotton, logs, wine, beef, dairy, live seafood, barley, and wine.

May 22, 2022: Albanese-led Labor Party in Australia wins a general election after nearly ten years of conservative rule.

November 15, 2022, Albanese meets President Xi Jinping at their first leaders’ encounter since 2016 in Indonesia, off the G20 sidelines.

December 21, 2022: The first official meetings in China since 2018 are held in Beijing by Foreign Minister Penny Wong.

January 3, 2023, China permits the resumption of coal imports from Australia for its major steelmaker, three utilities supported by the government.

Don Farrell, Australia’s trade minister, travels to Beijing on May 11 to discuss removing trade obstacles.

August 5: China removed its 80.5% tariffs on Australian barley

On September 7, Albanese meets Premier Li Qiang in Indonesia for the East Asia Summit.

October 11: After three years in a Beijing jail on accusations of national security, China releases Australian journalist Cheng Lei.

October 21: Following a security evaluation, Australia approves Landbridge’s 99-year lease on the Port of Darwin, a Chinese corporation.

October 22: China consents to reconsider its 218% dumping taxes on Australian wine, perhaps paving the way to start imports again. Australia pauses WTO complaints.


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