As the confrontation over tariffs with Washington and Brussels worsens, Beijing is preparing to revoke the last retaliatory measure still in force against Canberra. This was announced by Australian Prime Minister Albanese, who in these two years has tried to mend relations by keeping trade issues with China separate from geopolitical issues.
Sydney (/Agencies) – As the trade war with the United States and Europe intensifies – in recent days news has come about the tariffs that Brussels has imposed on electric cars and Beijing’s retaliation on brandy imports – the People’s Republic China seems to be closing down these types of confrontations with Australia.
Prime Minister Anthony Albanese, in effect, said today that China will lift its ban on the lucrative Australian lobster trade. The statement was made after a meeting with Chinese Prime Minister Li Qiang on the sidelines of the ASEAN summit being held in Vientiane. It refers to the latest standoff that began between 2020 and 2021, when Beijing banned imports or imposed tariffs worth $15 billion on various Australian products, from wine to timber, during years of hardening relations with Canberra. The lobster trade, valued at $500,000 a year, was the last major Australian export to remain under sanctions, and the removal of these – expected to take place next Chinese New Year, when demand for the product is highest – It is the result of months of diplomatic efforts.
The trade war with Canberra began in 2020 over Australia’s crackdown on Chinese foreign influence operations, with a decision to prevent tech giant Huawei from operating Australia’s 5G network, and calls for an investigation. on the origins of the Covid-19 pandemic.
The lifting of the lobster import ban constitutes a notable political victory for Albanese, who is seeking re-election in early 2025. In fact, many producers come from Western Australia, a key state in the battle. More broadly, Canberra’s premier has spent a lot of money over his two years in office trying to insulate vital trade relations with China, Australia’s biggest trading partner, from the geopolitical headwinds caused by tensions in the China Sea. Southern, in which Canberra is aligned with Washington and its allies.
It is estimated that before the ban, 97.7% of Australian lobster exports went to China, more than 1,600 tonnes per year. In recent years some Australian producers have found new markets in the United States, Europe, Asia and the Middle East, while others have avoided sanctions by creating a “grey market” of exports to China through Hong Kong, Hanoi and other Asian cities. . According to researchers at the University of Technology Sydney, the volume of exports to Hong Kong increased more than 6,100 percent after the ban.
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