China is looming to impose bans on up to $6 billion of key Australian exports. Exporters of Australia to China are bracing for a loop of more trade bans that will cost them billions.
Authorities in China have threatened the Australian exporters to ban copper, barley, coal, wine, sugar, lobster, and timber which will adversely affect business.
Exporters of wine had already been told by Chinese importers that Australian wine would not be cleared from the customs of China from Friday. And wine export has a cost of $1.2 billion to Australian producers.
The deadline is a major rise in the trade conflict between China and Australia.
In the past few months, Australian coal, beef, wine, and barley producers are caught in increasing stress with China after coronavirus disputes.
Approx 20 tons of lobster remains stuck at Shanghai Pudong airport in China.
China estimates for 95 per cent of Australia’s $750 million lobster trading exchange. And leaving the industry – centred around Western Australia and South Australia – exposed to the business tensions between Beijing and Canberra.
The executive director of Seafood Industries Victoria, Johnathon Davey, said that lobster exporters would suffer more with any trade conflict between Australia and China.
“For our industry across the nation, it would be a big loss,” said Mr Davey.
David Littleproud, Agriculture Minister, said the Federal Government was aware of both the barley and timber trade sanctions. He added that Australian officials would definitely operate with the authorities of China to review and fix the conflicts.
The former Australian ambassador to China has made the Federal Government rethink its relationships with Beijing.
Geoff Raby has published a book named China’s Grand Strategy and Australia’s Future in the New Global Order. He said in his book that “Canberra will be considered less seriously and be less appreciated by territorial partners if it is not capable of maintaining its relations with China”.
Additionally, author Mr Raby reminded that close ties of Australia with the US risked it develop a “proxy strategic competitor” to China.