EconomyLens.com
No Result
View All Result
Thursday, August 14, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

China lifts rock lobster ban, bringing end to Australian trade barriers

David Peterson by David Peterson
December 20, 2024
in Economy
Reading Time: 6 mins read
A A
3
51
SHARES
632
VIEWS
Share on FacebookShare on Twitter

The ban on Australian rock lobster is the last of several to be lifted by China. ©AFP

Sydney (AFP) – China has lifted a ban on imports of Australian live rock lobsters, Canberra said Friday, demolishing the final barrier in a broader, multibillion-dollar trade war between the countries. Beijing has banned or slapped retaliatory tariffs on more than US$12 billion worth of Australian exports, from wine to timber, during years of soured ties with Canberra. The lobster trade, worth US$500,000 a year, was the last of a number of major Australian exports to remain under sanctions after months of Australian diplomatic efforts.

Related

Germany sacks rail chief with train network in crisis

US producer inflation highest in three years in July

UK economy slows less than feared after tariffs

European powers tell UN they are ready to reimpose Iran sanctions

India reels from US tariff hike threat

“China has confirmed that our live rock lobster exports can recommence into China,” Agriculture Minister Julie Collins told reporters. “This is great news for our live rock lobster producers and fishers here in Australia, and importantly, it means that they can now apply for import permits to go back into this market.” Lobsters were the “last of those trade impediments” imposed by China, she added. China introduced a de facto ban on live rock lobster in 2020 while denying the move — and a raft of other punitive tariffs — were linked to the worst crisis in relations in decades.

Beijing was enraged by Canberra’s crackdown on Chinese foreign influence operations, the decision to block tech giant Huawei from running Australia’s 5G network, and a call for an investigation into the origins of the Covid-19 pandemic. Australian Prime Minister Anthony Albanese said in October that Beijing would let the lobsters back in after a meeting with Chinese Premier Li Qiang in Laos. Albanese said the confirmation of that reopening was the result of his government’s “calm and consistent” approach with China since his Labor Party came to power in May 2022.

At the low point in relations, Australian exporters faced impediments on exporting wine, barley, coal, cotton, timber logs, oaten hay, copper ores and concentrates, and red meat, the government said. “The removal of restrictions on lobster marks the resolution of all outstanding impediments to trade from that period,” it said in a statement. The reopening to lobster may also give Albanese a political boon. The prime minister must call an election in the first half of 2025, and many lobster producers come from Western Australia, a key battleground state.

The centre-left leader has spent much of his time in office trying to improve the trade relationship with China, Australia’s biggest trade partner. At the same time, Australia is part of a loose US-led alliance that has aggressively pushed back against China’s bid for primacy in the Pacific region. Before the ban, an estimated 97.7 percent of Australia’s rock lobster exports were sold to China, more than 1,600 tonnes a year. Some Australian producers have since found new markets in the United States, Europe, Asia, and the Middle East. Many more skirted sanctions by creating a “grey market” of exports to China via Hong Kong, Hanoi, and other Asian cities.

The volume of exports to Hong Kong alone shot up more than 6,100 percent after the ban, according to researchers at the University of Technology Sydney. Exporters are hoping they can resume exports in time for Chinese New Year, when delicacies such as rock lobster are in hot demand.

© 2024 AFP

Tags: Chinaexportstrade
Share20Tweet13Share4Pin5Send
Previous Post

Starbucks workers to start US strike on Friday: union

Next Post

Credit Suisse collapse probe slams banking regulator

David Peterson

David Peterson

Related Posts

Economy

German gas drive fuels fears of climate backsliding

August 14, 2025
Economy

S.Africa to offer US new deal to avoid 30% tariff

August 12, 2025
Economy

US consumer inflation holds steady but tariff risks persist

August 13, 2025
Economy

In China’s factory heartland, warehouses weather Trump tariffs

August 12, 2025
Economy

Trump signs order to extend China tariff truce by 90 days

August 12, 2025
Economy

Trump says dealing ‘nicely’ with China as tariff deadline looms

August 11, 2025
Next Post

Credit Suisse collapse probe slams banking regulator

European stocks retreat further before US inflation data

Russia central bank holds off rate hike after criticism

Brits kindle Christmas spirit with second-hand gifts

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

75

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Air Canada cancels flights over strike threat

August 14, 2025

Germany sacks rail chief with train network in crisis

August 14, 2025

US stocks drop as producer inflation surges

August 14, 2025

US producer inflation highest in three years in July

August 14, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.