Jan 6 (Reuters) – China is resuming coal trade with Australia after a three-year halt following strained relations between the two countries over wider issues.
WHAT HAPPENED BETWEEN CHINA AND AUSTRALIA?
China and Australia’s relations had been strained since 2018 when Canberra banned Huawei Technologies from its 5G broadband network.
The relationship deteriorated further in 2020 after Canberra’s call for an international inquiry into the origins of COVID-19, triggering a raft of trade reprisals by Beijing on Australian exports.
WHICH PRODUCTS WERE AFFECTED?
Aside from coal, exports of barley, beef, cotton, wine, lobsters and grapes were all hit with restrictions of varying degrees during 2020.
China has however continued buying large volumes of iron ore, wheat and liquefied natural gas.
Source: https://www.reuters.com/markets/commodities/how-strained-china-australia-relations-hit-trade-coal-barley-beef-wine-2023-01-06/
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