Australian business hopeful of better ties with China
The first bilateral meeting between the leaders of China and Australia since 2016 raised hopes that acrimonious tensions between the countries might be easing, leading to the eventual lifting of trade sanctions imposed by Beijing. Australian wine, barley, lobsters, beef and coal were among the products that were hit by tariffs, some as high as 200 per cent. The government has estimated that the move has cost the economy about A$20bn a year. It underlined Australia’s economic dependence on its largest trading partner.
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