Beware, Australia Will Drag China To The WTO - Kakiforex | Forex markets for the smart money. Beware, Australia Will Drag China To The WTO Beware, Australia Will Drag China To The WTO

June 2, 2021

Beware, Australia Will Drag China To The WTO

 Australia is considering involving the World Trade Organization (WTO) in its dispute with China, according to Trade Minister Dan Tehan in a statement on Wednesday.


Reporting CNBC, Tehan told that the government has been working closely with the Australian wine industry on the impact the sector has had due to sanctions imposed by China previously.


He added that Australia would make an announcement on whether they would involve the WTO in the issue in the next few weeks.


In March, China’s Ministry of Commerce announced anti-dumping tariffs of between 116.2% and 218.4% on Australian wine imports, over which it will last for five years.



The action was taken following a Chinese anti -dumping investigation carried out on wine imports from Australia earlier this year.


Bilateral relations between Australia and China have deteriorated since last year, after Canberra backed calls for an international investigation into Wuhan that is said to be the cause of the coronavirus outbreak.


Following that, China has dropped a number of restrictions on Australian exporters, including anti -dumping and anti -subsidy duties on barley, a ban on imports from slaughterhouses and a halt to Australian coal imports.


This could have a huge impact on the Australian economy which is heavily dependent on trade and China as its largest trading partner.