Concern is growing that Australia’s coal industry in next on the import chopping block for China, as trade tensions continue to escalate.
It comes after Beijing imposed an 80 percent tariff on our Barley imports, and banned beef imports from a number of Australian abbatoirs, including three in Queensland.
There are suspicions that China is retaliating to Australia’s push for an inquiry into the origins of coronavirus, however Beijing has denied it.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
In the latest move, it’s been reported that the Chinese government is now warning state-owned power plants not to buy new shipments of Australian thermal coal, in favour of domestic products.
Australia’s Deputy Prime Minister Michael McCormack telling the ABC it’s a concerning move, but is positive it will be resolved.
“We have a two-way relationship with China.
“China needs Australia as much as Australia needs China and we want to make sure that whatever we do is in a careful and considered way.
“We want to make sure that our coal exports have a destination.
“China has long been a customer of ours. They know the quality of our coal, they know the quality of our iron ore and other resources,” Michael McCormack said.