Australian exports to China fall 26pc, fastest drop among trade partners

Original article by Glenda Korporaal
The Australian – Page: 20 : 8-Sep-20

Data from China’s General Administration of Customs suggests that the value of the nation’s imports of goods from Australia fell by 26.2 per cent year-on-year in August, to $US8.81bn. This follows a 7.2 per cent fall in July. Australia’s overall exports to China have fallen by 7.5 per cent to $US75.7bn over the year, according to the Chinese data. The Australian Bureau of Statistics has previously reported that the nation exported a record $150bn worth of goods to China in the year to 30 June. Australia’s relations with China have become increasingly strained in recent months.

CORPORATES
CHINA. GENERAL ADMINISTRATION OF CUSTOMS, AUSTRALIAN BUREAU OF STATISTICS

China devours one-third of all our farm exports

Original article by Patrick Commins
The Australian – Page: 5 : 20-Aug-20

Data from Rabobank shows that China accounted for 32 per cent of Australia’s food and agricultural exports in 2019-20. China also bought 30 per cent of Australia’s lamb exports and 25 per cent the nation’s beef exports during the financial year, while it accounted for 77 per cent of wool shipments. Tim Hunt of Rabobank warns that Australia is too reliant on a single export market, particularly given the recent tensions between the two nations. He notes that while China has been the major driver of the agribusiness sector’s growth over the last decade, there is a need to diversify into other export markets.

CORPORATES
RABOBANK AUSTRALIA LIMITED

China knew barley dumping claims were false

Original article by Andrew Taylor, Brad Thompson
The Australian Financial Review – Page: 1 & 6 : 20-May-20

The federal government will hold crisis talks with barley growers on 20 May following China’s imposition of a punitive tariff, but Trade Minister Simon Birmingham says the nation will not retaliate with a trade war. The government is likely to take the matter to the World Trade Organisation, although it remains hopeful of resolving the dispute bilaterally. Meanwhile, it has been revealed that the government’s submission to China’s Commerce Ministry noted that China International Chamber of Commerce officials had admitted that there was no evidence to support claims of dumping by Australian barley producers.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WORLD TRADE ORGANIZATION, CHINA. MINISTRY OF COMMERCE, CHINA INTERNATIONAL CHAMBER OF COMMERCE

China imposes 80.5 per cent barley tariffs on Australian firms from Tuesday

Original article by
The New Daily – Page: Online : 19-May-20

The decision by China’s Commerce Ministry to impose anti-dumping and anti-subsidy duties totalling 80.5 per cent on Australian barley has been described as "deeply disappointing" by Trade Minister Simon Birmingham. He denies that Australia has subsidised or dumped barley that was exported to China. The decision takes effect from 19 May and is tipped to virtually put an end to Australia’s barley exports to China, which are worth between $1.5bn and $2bn a year.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, CHINA. MINISTRY OF COMMERCE

PM plays a long game with China, US cashes in

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 15-May-20

Prime Minister Scott Morrison says Australia will never "trade away its values" and will continue to pursue calls for an independent inquiry into the origins of COVID-19 despite China’s trade threats. The government holds the view that it is being tested by China, and that China is seeking to create division between the government and business by targeting important trade sectors such as agriculture. With China threatening 80 per cent tariffs on Australian barley, China is now allowing barley imports from the US as part of its commitment under the easing of its trade war with the Trump administration.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Australia used as example to warn world

Original article by Adam Creighton
The Australian – Page: 5 : 14-May-20

The motives for China’s decision to suspend beef imports from Australia continue to attract scrutiny. Richard McGregor of the Lowy Institute says China is sending a message to countries that cross it politically. There have been suggestions that the ban is in retaliation to Australia’s push for an independent inquiry into the origins of COVID-19. Stephen Kirchner of the US Studies Centre believes that the threat of punitive tariffs on Australian barley is in response to the anti-dumping duties being imposed on Chinese steel, rather than the proposed coronavirus inquiry.

CORPORATES
LOWY INSTITUTE FOR INTERNATIONAL POLICY, UNIVERSITY OF NEW SOUTH WALES. UNITED STATES STUDIES CENTRE

Birmingham: Tit-for-tat tariffs not on

Original article by Phillip Coorey, John Kehoe
The Australian Financial Review – Page: 6 : 14-May-20

Trade Minister Simon Birmingham says China should appeal to the World Trade Organization if it is still unhappy about Australia’s decision in 2014 to impose a tariff on Chinese steel imports. He contends that China should not seek to resolve an anti-dumping dispute by imposing its own tariff on Australian barley, describing such actions as unjustified. Birmingham adds that there is no evidence to support China’s claim that Australian barley is being subsidised.

CORPORATES
AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE, WORLD TRADE ORGANIZATION

Union backs PM over China

Original article by Geoff Chambers, Simon Benson
The Australian – Page: 1 & 4 : 14-May-20

Prime Minister Scott Morrison has told parliament that the comprehensive strategic partnership with China has been highly successful. However, amid growing tensions between the two nations, Morrison has stressed that Australia will always act in the national interest when relations become strained. Meanwhile, the federal government’s stance on China has received support from Daniel Walton, the national secretary of the Labor-aligned Australian Workers’ Union. He has urged the government to resist pressure from China over domestic and foreign policy decisions.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY

China unlikely to target iron ore in virus blame game

Original article by Sarah Turner
The Australian Financial Review – Page: 27 : 13-May-20

Commonwealth Bank commodity strategist Vivek Dhar does not expect China to reduce imports of Australian iron ore despite the growing trade tensions between the two nations. He contends that China is too reliant on iron ore from Australia, noting that 85 per cent of its iron ore imports are sourced from Australia. Dhar adds that exports of commodities such as coal are at greater risk, as they can be sourced more easily from other countries. Analysts also expect any economic stimulus measures in China to boost demand for steel, and therefore iron ore.

CORPORATES
COMMONWEALTH BANK OF AUSTRALIA – ASX CBA

Trade figures underscore economy’s reliance on mining and China

Original article by Euan Black
The New Daily – Page: Online : 6-Mar-20

Official data shows that Australia’s trade surplus fell by three per cent to $5.2bn in January, although this was better than economists had expected. The value of iron ore exports was 17.4 per cent lower than the peak in July, while coal exports were down 25 per cent from a May peak. The data also shows that the total value of the nation’s exports to China was 12 per cent lower than the peak recorded in June. This is despite the fact that China accounted for 38 per cent of exports in January. Indeed economist Callam Pickering says the figures demonstrate the Australian economy’s dependence on the mining sector and trade with China.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, INDEED INCORPORATED