Australia’s wine dispute with China leads to WTO as sales plunge | Business և economics news

Wine tariffs set by Beijing have doubled or tripled Australian wine, making the Chinese market for real exporters.

The Australian government said on Saturday it had lodged a formal complaint with the World Trade Organization against China imposing anti-dumping duties on Australian wine exports. intensifying the trade confrontation with Beijing,

“The government will continue to actively advocate for the interests of Australian winemakers by using the WTO system to resolve our differences,” said Dan Tehan, Minister for Trade, Tourism and Investment, in a joint press conference with David LittlePrud, Minister for Agriculture. ,

Relations with China, already strained after Australia banned Huawei from its newborn 5G broadband network in 2018, deteriorated after Canberra demanded an international inquiry into the origin of the coronavirus, first reported in Central China last year. :

China, Australia’s largest trading partner, has responded by imposing tariffs on limited imports of Australian goods, including wine, barley, Australian beef, coal and grapes, which the United States describes as “economic coercion.”

Last year, Australia formally applied to the WTO in a bid to reconsider China’s decision to impose huge tariffs on Australian barley imports.

Wine tariffs have doubled or tripled its price շուկ The Chinese market was turning to real exporters, the Australian government had said earlier.

Australian winemakers shipped just $ 12 million ($ 9 million) worth of wine to China from December to March, up from A $ 325 million ($ 243 million) a year earlier, industry data show, confirming the huge new tariffs. largest export market.

“Dispute Resolution System”

In early June, Prime Minister Scott Morrison called on the WTO to resolve the situation between the two countries, and a few days later won the Group of Seven for a tougher stance on China’s growing influence in world trade.

On Saturday, the government said that despite the protests, Canberra was ready to cooperate with Beijing.

“Australia remains open to direct contact with China to resolve this issue,” Tehan and Little Proud said in their release.

The move came just a week after the G7 summit on progressive economies on Saturday, in response to a call from Australia for a tougher stance against China’s trade practices and a stronger position in the world.

The G7 summit ended on June 12 with the announcement of US-led plans to counter China’s $ 1 trillion Zone Road Initiative, describing its efforts to spread economic influence around the world.

The group promised hundreds of billions of dollars in infrastructure investment for low- and middle-income countries. Build a Better World (B3W) Project,

B3W was seen as a competitor to China’s efforts, which have been widely criticized for putting small countries in debt.

Morrison attended the summit as part of a G7 resolution that included leaders from South Korea, South Africa and India, and said he would support other countries in joint action against China’s aggressive trade policy.

“The most secure way to resolve economic coercion is to restore the mandatory dispute settlement system of the global trading body,” he said ahead of the summit.

“Where there are no consequences of coercive behavior, there is little incentive to contain it,” he said.

Morrison received open support from the United States in the confrontation with China, as well as from French President Emanuel Macron during his visit to Paris after the G7 summit.

Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button