Daily Mail: 'This is a warning': China issues ANOTHER threat as it announces new checks on Australia's iron ore as trade tensions escalate again after Canberra backed COVID-19 probe
* China has changed customs rules to make iron-ore easier and quicker to import
* But analysts said Australian exporters could be targeted for extra checks
* Last week China put an 80% tariff on barley and banned some Aussie beef
* Trade tensions have been increasing over Australia's call for COVID inquiry
* Trade Minister told Daily Mail Australia he welcomes the changes
China has issued another warning to Australia by opening the door to new checks on Australian iron ore in an escalating trade row overshadowed by coronavirus.
Beijing's latest move comes after China banned Australian beef and slapped a tax on barley in the wake of Canberra's calls for an inquiry into the pandemic.
The new Chinese customs rules mean that Australia's $63billion (£34billion) iron ore exports could be singled out for extra checks, analysts say.
Instead of mandatory inspections, China will now carry out optional checks at the request of the importer - meaning Australia's competitors could be given priority.
China's retaliation has sparked fears of a global trade war involving other countries who backed an inquiry, including Britain, although Beijing claims the changes are nothing to do with coronavirus.
Read more ....
Update: China amends inspections of iron ore imports as trade tensions with Australia rise -- Global Times
WNU Editor: Australian officials are trying to see a silver lining in these changes .... Australia relaxed over China's changes to iron ore export rules, but war of words goes on (The Guardian). More here .... Australia reassures on China iron ore processing changes (Reuters). The Australians should be concerned. These changes may look like it is streamlining the rules, but I am willing to bet that China will be using these changes to make it easier for them to hinder Australian ore.
6 comments:
Aussies need turn their ore into steel and ship it to the US. Replace Chinese steel with Aussie steel.
Win win.
Turning iron ore into steel takes energy. Lots of it. Windmills and solar panels won't do it.
So take your greenie weenies and exile them to China, send them to the funny farm, or put them on bare minimum welfare, but clean house.
Heard of bhp, Australia already makes top grade steel.
I salute the Australians for their integrity and will buy some Australian stuff today. Can anyone name a nice brand? Ideally booze or electronics hehe
Fasman,
No, I had not. If I heard about it 19 years ago, I forgot it.
I know vehicle manufacturers want cheap Chinese steel. This hurts American steel manufacturers. I would rather buy Aussie than Chinese.
Last I checked Australia was a US ally. So might as well trade with them than with China. I never saw Australians in country, but they were in the rear (Kuwait). I dislike that, but they still did more than Germany.
With this kind of threat from China the West have to be united and with a common trade threat: stop buying China product for few month, as the first step.
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