Energy News  
TRADE WARS
China cuts Australian beef imports after warning over virus probe
By Andrew LEESON
Sydney (AFP) May 12, 2020

China suspended imports from four major Australian beef suppliers Tuesday, just weeks after Beijing's ambassador warned of a consumer boycott in retaliation for Canberra's push to probe the origins of the coronavirus.

Analysts said the move raised concerns of a possible standoff between Australia and its most important trading partner that could spill over into other crucial sectors as it struggles to navigate the disease-induced economic crisis.

Federal Trade Minister Simon Birmingham said shipments of meat from the abattoirs had been suspended over "minor technical" breaches related to Chinese health and labelling certificate requirements.

"We are concerned that the suspensions appear to be based on highly technical issues, which in some cases date back more than a year," he added.

"We will work with industry and authorities in both Australia and China to seek to find a solution that allows these businesses to resume their normal operations as soon as possible."

The four meatworks account for around 35 percent of Australia's beef exports to China in a trade worth about Aus$1.7 billion (US$1.1 billion), according to national broadcaster ABC.

China has also flagged major tariffs on Australian barley over allegations it is selling the grain in China for less than it costs to produce it -- known as dumping. The Australian Financial Review cited confidential documents as saying Beijing is considering duties of 73.6 percent.

Tensions between the two have increased since Australia started calling for an independent investigation into the origin of the coronavirus outbreak, which began in China before spreading around the world, killing more than 280,000, infecting millions and shattering the global economy.

- Fears for other sectors -

The calls have drawn threats from Beijing, with ambassador Cheng Jingye calling them "dangerous".

In an interview with the Australian Financial Review last month, he said: "The Chinese public is frustrated, dismayed and disappointed with what Australia is doing now.

"If the mood is going from bad to worse, people would think 'why should we go to such a country that is not so friendly to China?' The tourists may have second thoughts."

He added: "It is up to the people to decide. Maybe the ordinary people will say 'Why should we drink Australian wine? Eat Australian beef?'"

Cheng also threatened the flow of Chinese students to Australian universities, a key source of revenue that is already under threat from pandemic travel restrictions.

But speaking in Canberra, Birmingham said the government was treating the trade issues as unrelated to discussions around a virus probe.

"It's in no way related, in no way related, to the export arrangements for Australian beef or for Australian barley or for anything else," he said.

"We certainly don't see any relationship, and we would expect that no other counterpart country should see a relationship between those factors either."

The countries were already at loggerheads after Australia hit China with huge anti-dumping levies on several products including aluminium and steel.

Beijing has also been riled by a decision to ban controversial telecoms giant Huawei from building Australia's 5G network.

And there are fears of a further escalation of the standoff and its impact on their two-way trade, which is worth about Aus$235 billion.

"The risk is, of course, that this broadens out to more critical areas such as iron ore, coal, education, LNG, etcetera," said AxiCorp's Stephen Innes.

He added: "But if it stays at beef and barley, then economically, it shouldn't matter much for Australia."

The benchmark ASX200 ended down 1.1 percent Tuesday, while the Australian dollar fell around 0.5 percent against the US dollar.


Related Links
Global Trade News


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


TRADE WARS
China, US commit to implement trade deal despite virus row
Beijing (AFP) May 8, 2020
Chinese and US trade representatives agreed Friday to "create favourable conditions" for the phase one trade deal signed in January, officials said, despite recent tensions over the coronavirus pandemic. Vice Premier Liu He, who had led Beijing's negotiations, held a call in the morning with US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. "Both sides said they should strengthen macroeconomic and public health cooperation, strive to create a favourable atmosphere ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

TRADE WARS
New map highlights China's export-driven CO2 emissions

COVID-19 to cause record emissions fall in 2020: IEA

Europe's banks not doing enough on climate: pressure group

DLR rethinks carbon pricing process

TRADE WARS
Supercapacitor promises storage, high power and fast charging

New Princeton study takes superconductivity to the edge

KIST develops high-performance ceramic fuel cell that operates on butane gas

Researchers tackle a new opportunity to develop high-energy batteries

TRADE WARS
Wave, wind and PV: The world's first floating Ocean Hybrid Platform

Supercomputing future wind power rise

Wind energy expansion would have $27 billion economic impact

Opportunity blows for offshore wind in China

TRADE WARS
How a solar chimney can boost fire safety

CIT Leads $217 Million Financing for Hillcrest Solar Project in Ohio

Seraphim to Supply 183MW Solar Modules to the Philippines

Engineers demonstrate next-generation solar cells can take the heat, maintain efficiency

TRADE WARS
Study reveals single-step strategy for recycling used nuclear fuel

Framatome and the Technical University of Munich to develop new fuel for research reactor

Are salt deposits a solution for nuclear waste disposal?

Framatome awarded to modernize research reactor at Technical University of Munich

TRADE WARS
Fossil fuel-free jet propulsion with air plasmas

How new materials increase the efficiency of direct ethanol fuel cells

Water is key in catalytic conversion of methane to methanol

Researchers make key advance toward production of important biofuel

TRADE WARS
Is There Life After the Oil Apocalypse?

Nigeria Faces 'Double Whammy' Challenge of COVID-19 and Plummeting Oil Revenue

With prices down and jobs leaving, US oil workers learn patience

Oil prices fall as US-China tensions offset virus hope

TRADE WARS
Potentially fatal combinations of humidity and heat are emerging across the globe

April 2020 tied for warmest on record: EU climate service

'Catastrophic' drought hits Czech Republic: minister

Fight climate change like coronavirus: UN









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.