Forex Trading News & Analysis – Economies.com

Forex Trading News & Analysis - Economies.com

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Topic

Posted May 19, 2020 12:45:48

Agriculture Minister David Littleproud says there is no trade war with China, saying the tariffs imposed on Australian barley from today were mooted 18 months ago.

Barley farmers are bracing for a major financial hit as China’s new trade tariffs effectively kill off their premium market and force them to try and sell their grain to less lucrative global markets.

The import tax will remain in place for five years, according to a statement from China’s Ministry of Commerce.

Two Australian ministers are unable to speak with their Chinese counterparts on the eve of an expected tariff being formally imposed on Australian barley, and China’s Commerce Minister refuses to say why.

A plan to tax digital giants will not likely be implemented until late next year, despite Google Australia’s latest financial accounts showing billions of dollars in local advertising revenue is not being taxed in Australia.

The dominant economic theories of the past century been turned on their heads by the coronavirus pandemic, and it could lead to a completely different global economy on the other side, writes Ian Verrender.

Posted May 17, 2020 14:11:16

Trade Minister Simon Birmingham has been seeking to speak with his counterpart since China threatened to impose an 80 per cent import tariff on Australian barley.

High-ranking calls to China have gone unanswered amid an escalating trade dispute with Australia that has been fuelled by requests for an investigation into the origins of COVID-19.

Members of Australia’s biggest wheat exporter have narrowly voted to remove a board member, Trevor Badger, for the first time in the WA cooperative’s 87-year history.

Posted May 15, 2020 12:05:52

Posted May 15, 2020 11:46:52

According to a new Australia’s Exporter Supply Chain Assurance System report, two companies breached animal welfare standards in Indonesia and Vietnam last year.

China’s apparent displeasure with Australia is ramping up and it’s feared many more industries could be at risk, adding to the pressure from the coronavirus economic slowdown.

Trade tensions between Australia and China are threatening a number of local export industries. Beijing has targetted imports of Australian beef and barley, just weeks after our Prime Minister called for an international inquiry into the origins of COVID-19.

Australia produced more than 10.6 million trays of mangoes last season. But the big question is, who produced more — Queensland or the Northern Territory?

Posted May 13, 2020 17:09:17

Australia’s farm lobby attempts to quash fears that China’s trade blitz on Australian agriculture could grow.

The Morrison Government seems to be betting that all it needs to do is hold its nerve and hold the line when it comes to China’s trade threats. Farmers and exporters across the nation will be nervously hoping the Coalition has made the right call, writes Stephen Dziedzic.

Queensland’s Premier is writing to the Prime Minister in a bid to stop a “full-blown trade war” with China, which she says could threaten thousands of the state’s beef processing jobs.

Posted May 12, 2020 12:17:13

Growing trade tensions with China could have far-reaching consequences for Australian farmers and wine producers who rely heavily on exports. Stephen Long reports.

Australia’s red meat industry could be the latest victims in a fast-evolving trade war with China, with a number of Australian abattoirs suspended from the trade.

Until the coronavirus pandemic, Leogate Estate Wines was flying high, but many of its sales channels have been shut off and now a spat between Australian and China is threatening its main export market.

Australian grain farmers have stopped sowing barley mid-stream as they brace for lower prices and the prospect of losing a major market, in a brewing trade storm.

Posted May 11, 2020 07:28:26

New research suggests the agriculture industry should prepare to import large shipments of feed grain for livestock, despite the biosecurity risks.

China fires its first shot in an increasingly bitter diplomatic row, threatening to slap major tariffs on Australia’s barley exports, that could rip hundreds of millions from the trade.

Queensland bicycle shops say they’re having to turn customers away because of two-month delays on new stock, while overwhelming demand for repairs has them working 12-hour days.

A new player emerges in Australia’s live-export industry, with its maiden voyage due to leave Townsville port tonight.

Source: www.abc.net.au

Author: ABC News
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International Trade News

International Trade News

U.S. International Trade Commission said it has launched an investigation of a patent-infringement complaint Universal Electronics filed in April against Roku and makers of devices that include its operating system.

The Kalencom Corp. lost its challenge to the duty level on imports of certain types of jewelry boxes, because U.S. Customs and Border Protection properly classified these imports, the U.S. Court of International Trade said.

The Trump administration won’t be allowed to keep enforcing a regulation designed to eliminate a tax benefit for companies that import and export wine as it appeals a U.S. Court of International Trade decision that struck down the regulation.

President Donald Trump likes to be seen as a man of action. So everything you read below should be consumed with some skepticism.

Huawei Technologies Co. warned the latest U.S. curbs on its business will inflict a “terrible price” on the global technology industry, inflaming tensions between Washington and Beijing while harming American interests.

The U.S. exported 504k tons/month of petrochemicals and LPG in March and April to China as the phase 1 trade deal incentivized Chinese companies to buy American cargoes, Kpler said in a note.

Source: news.bloomberglaw.com


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Forex Trading News & Analysis - Economies.com

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