China has effectively ended Australia’s barley trade with the country, by slapping a whopping 80 per cent tariff on imports.
It’s understood the decision could devastate our grain industry, with the Chinese market worth around $1.5 billion to Aussie farmers.
Beijing had threatened the move after Australia’s strong push for an inquiry into the coronavirus origin, and has already banned beef exports from four Australian abbatoirs.
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Over 110 countries came forward to back the inquiry push, on the eve of this new tariff introduction.
However, Beijing claims the move is to stop Australia dumping cheap barley onto the Chinese market.
Australia’s Trade Minister Simon Birmingham says the federal government may appeal the the 73.6 percent anti-dumping tariff, and the 6.9 percent anti-subsidy tariff.
“Australia is deeply disappointed with China’s decision to impose duties on Australian barley.
“We reject the basis of this decision and will be assessing the details of the findings while we consider next steps.
“We reserve all rights to appeal this matter further and are confident that Australian farmers are among the most productive in the world, who operate without government subsidy of prices,” Mr Birmingham said in a statement.