Australia Drops WTO Case Against China as Beijing Lifts Barley Tariffs

News Snapshot:

Australia on Thursday announced its decision to withdraw a case against China at the World Trade Organisation (WTO) following Beijing’s removal of significant tariffs on Australian barley exports. “We welcome this outcome, which paves the way for our barley exporters to re-enter the Chinese market — benefiting Australian producers and Chinese consumers," Foreign Minister Penny Wong said in a statement. In 2020, China imposed tariffs on significant Australian exports, including barley, beef, and wine, as part of an assertive display of its economic power during a contentious dispute with Australia’s former conservative government. In response, Australia initiated a case with...