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☆ China ambassador says Australia wine tariff review on track
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +1 min

China's review of tariffs on Australian wine is progressing well, Chinese Ambassador Xiao Qian said on Monday, but he stopped short of confirming an Australian government claim the dispute would be resolved this month. China's review of tariffs on Australian wine is progressing well, Chinese Ambassador Xiao Qian said on Monday, but he stopped short of confirming an Australian government claim the dispute would be resolved this month. "Currently, Chinese authorities are reviewing and investigating our tariffs on Australian wine and things are moving on the right track, in the right direction," Xiao told the Australian Financial Review Business Summit. A day earlier, Australia's trade minister said China would complete its review into the years-long wine tariffs by the end of March. The standoff over China's tariffs of up to 218% on Australian wine remains unresolved.

Persons: Helen, Joey, Xiao Qian, Xiao Organizations: Australian Financial, Business, Australian, World Trade Organization Locations: Shiraz, Yarra, Greater Melbourne, Australia, China, Beijing

☆ Australia's Albanese to highlight trade on China visit as ties warm
▼ + stars: | 2023-11-03 | by ( Kirsty Needham | ) www.reuters.com time to read: +4 min

A quarter of Australia's export earnings come from China, more than the next three trade partners, the United States, South Korea and Japan combined, Albanese said on Tuesday. "Trade as an anchor provides stability and certainty to allow greater engagement while we navigate uncertain currents and obstacles that lie beneath," said Australia China Business Council president David Olsson. Chairman of the Business Council of Australia's global engagement committee, Warwick Smith, said Albanese would highlight the complementary nature of bilateral trade in a speech on Sunday to 500 business people. DIFFICULT TOPICSChina has lauded the visit's timing, on the 50th anniversary of the first to China by an Australian leader, then Prime Minister Gough Whitlam. Although the Albanese government has put dialogue at the centre of its approach to China, most policy remains the same, he said.

Persons: Anthony Albanese, Albanese, Xi Jinping, Richard Marles, David Olsson, Li Qiang, Fortescue, " Olsson, Warwick Smith, Gough Whitlam, Penny Wong, Xiao Qian, Richard Maude, Thomas, Maude, Kirsty Needham, Robert Birsel Organizations: SYDNEY, Australia China Business, Fortescue Metals, Rio Tinto, BHP, Business Council, Asia Society Australia, America, Thomson Locations: China, Shanghai, South, Beijing, Australia, United States, Canberra, Britain, Washington, South Korea, Japan, Rio, CIIE, Philippines, Taiwan

☆ Australia hopes for China wine breakthrough as deadline nears
▼ + stars: | 2023-10-17 | by ( Kirsty Needham | ) www.reuters.com time to read: +3 min

[1/2] Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. Australia lodged a complaint over China's tariffs on its wine at the WTO in 2021. Until the tariffs, China was Australia's top wine export market, peaking at A$1.2 billion ($770 million) for the 12 months to January 2020. Officials are unable to comment publicly on a WTO report prior to publication. Australia wanted to take the faster path of negotiating an outcome with China on wine, as it did in the barley dispute.

Persons: Florence, Anthony Albanese, Albanese, Don Farrell, Farrell, Kirsty Needham, Gerry Doyle, Barbara Lewis Organizations: REUTERS, Rights, Canberra, World Trade Organization, Australian, WTO, Trade, China Business Council, Reuters, Thomson Locations: Beijing, China, Australia, Canberra

☆ Australia, Philippines upgrade ties to strategic partnership
▼ + stars: | 2023-09-08 | by ( Karen Lema | ) www.reuters.com time to read: +2 min

The Philippines last month held military exercises near the South China Sea with Australia, its second-largest partner in defence security. "Australia supports the 2016 South China Sea arbitral award. The Philippines, Malaysia, Vietnam, Brunei and Taiwan have claims to certain areas of the South China Sea. Most of Australia's trade also goes through the South China Sea. Albanese confirmed on Thursday he will visit China later this year, the first visit by an Australian leader since 2016.

Persons: Anthony Albanese, Ferdinand Marcos Jr, Earvin, " Albanese, Marcos, Albanese, Neil Jerome Morales, Mikhail Flores, Kanupriya Kapoor Organizations: Australia's, REUTERS Acquire, Rights, . Australian, Philippine, Forces, China, China Sea, Thomson Locations: Philippine, Manila, Philippines, Rights MANILA, Australia, South China, South, China, Malaysia, Vietnam, Brunei, Taiwan

☆ Australia's trade with China won't return to normal until restrictions are removed, minister says
▼ + stars: | 2023-08-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAustralia's trade with China won't return to normal until restrictions are removed, minister saysTim Ayres, Australia's assistant minister for trade, also discussed the nation's ongoing talks with the EU as well as its critical minerals strategy.

Persons: Tim Ayres Organizations: EU Locations: China

☆ Australia says it will conduct more joint patrols with Philippines in South China Sea
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +3 min

The joint exercises, a first for the two nations, come amid renewed tensions between the Philippines and China in the South China Sea. Marcos spoke to journalists after Friday's beach landing drill in Zambales, near the South China Sea, which he watched with binoculars, accompanied by Marles and Philippines Defense Secretary Gilbert Teodoro. At a joint news conference with Teodoro, Marles said the first joint patrols of the South China Sea by the two navies would "happen soon". The Philippines, Malaysia, Vietnam, Brunei and Taiwan have claims to certain areas of the South China Sea. Most of Australia's trade goes through the South China Sea, and upholding international rules is a shared strategic interest with the Philippines, he earlier told ABC radio.

Persons: Richard Marles, Caroline Chia, Ferdinand Marcos Jr, Marcos, Marles, Gilbert Teodoro, Teodoro, Anthony Albanese, Kirsty Needham, Karen Lema, Gerry Doyle Organizations: Australian, REUTERS, Rights, Marines, Philippine Navy, Philippines Defense, ABC, Thomson Locations: Singapore, Australia, South, Philippines, Philippine, Canberra, China, South China, Zambales, Malaysia, Vietnam, Brunei, Taiwan, Southeast Asia, Japan, U.S, Sydney, Manila

SYDNEY, Aug 24 (Reuters) - Australia's Trade Minister Don Farrell has dangled easier access to the country's vast critical minerals sector as part of negotiations over a free trade agreement with the European Union ahead of possible further talks as soon as next week. Farrell told Reuters in an interview on Thursday that a free trade agreement would simplify European investment in the country's burgeoning critical minerals sector, in part by smoothing access through mandatory Foreign Investment Review Board (FIRB) screening. "One of the big advantages we've got in this relationship is our access to critical minerals, rare earths, hydrogen and ammonia," Farrell said. "Other countries are looking to invest in our critical minerals and other renewables. Australia was an especially attractive place for critical minerals investment from the United States under U.S. Inflation Reduction Act rules because it was one of the few countries to have both mineral deposits and a free trade agreement with the U.S., said Farrell.

Persons: Don Farrell, Farrell, China, we've, they've, Annalena Baerbock, teleconference, Dombrovskis, Lewis Jackson, Kirsty Needham, Michael Perry Organizations: SYDNEY, Australia's Trade, European Union, Reuters, Investment, Board, Foreign, U.S, EU, Trade, Thomson Locations: Australia, Germany, China, Sydney, Europe, Japan, South Korea, Singapore, United States

☆ Australia talks tough on EU trade - FT
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Australia's trade minister Don Farrell has warned the European Union that he will not sign on a trade deal unless the bloc opens its market to more Australian farm products, the Financial Times reported on Wednesday. Farrell said an agreement with the bloc was possible only if the EU backed down on its demands not to expose its farmers to competition, the report said. In May when China's imports from major trade partners including the United States, Japan and South Korea shrank, its purchases from Australia rose 5.4%, according to Reuters' calculations based on Beijing's customs data. Farrell on Tuesday told Sky News that the two countries have set out a pathway to resolve all remaining trade restrictions during a recent meeting in Beijing. Reporting by Jose Joseph in Bengaluru and Ellen Zhang in Beijing; Editing by Kim Coghill and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Don Farrell, Farrell, Jose Joseph, Ellen Zhang, Kim Coghill, Chizu Organizations: European Union, Financial Times, Australia, Sky News, Thomson Locations: EU, Australia, China, United States, Japan, South Korea, Beijing, Bengaluru

☆ China is a threat but talks must continue: Germany, Canada, Australia
▼ + stars: | 2023-06-05 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

Germany's Defense Minister Boris Pistorius was part of the the Shangri-la Dialogue, Asia's largest security forum, over the weekend. Decoupling from China is not an option, but finding a path to de-risk and reduce dependencies is important, Germany's Defense Minister Boris Pistorius told CNBC's Sri Jegarajah at the event. Australia's Trade Minister Don Farrell told CNBC in April that he's hopeful other tariffs put in place could be removed as well. China seen as a 'disruptive power'China is an "increasingly disruptive power" to peace in the region, Anita Anand, Canada's defense minister said, told CNBC. Speaking at the event Sunday, China's defense minister addressed the issue.

Persons: Boris Pistorius, CNBC's, Pistorius, That's, Richard Marles, Marles, Don Farrell, Anita Anand, Anand, we'll, Li Organizations: Germany's, Getty, SINGAPORE, CNBC, CNBC's Sri, World Trade Organization, China, Australia's Trade Locations: Australia, Canada, Germany, Singapore, China, CNBC's Sri Jegarajah, Canberra, Beijing, Taiwan

☆ Barley talks may be 'first step' toward better trade ties with China. Australia hopes wine is next
▼ + stars: | 2023-04-14 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

"Barley is the first step in a long process of stabilizing our trading relationship with China," Farrell said Friday, after the two economic giants agreed this week to work toward removing tariffs on Australian barley. Since China's 2020 tariffs on barley, Australia has been essentially blocked from exports to that market worth about $620 million ($916 million Australian dollars) in 2018-19. Don Farrell Minister for Trade and TourismWhen asked about a timeline on a complete resolution to the barley tariffs, the Australian trade minister said he was looking at "the next three to four months." While the future of Australian barley returning to China again is still not confirmed, Farrell is hoping wine could be next on the list. In March 2021, China introduced a crushing five-year tariff of up to 218% on Australian wine.

☆ Australia PM defends AUKUS submarine deal against critics
▼ + stars: | 2023-03-16 | by ( Lewis Jackson | ) www.reuters.com time to read: +2 min

[1/2] U.S. President Joe Biden, Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak deliver remarks on the Australia - United Kingdom - U.S. (AUKUS) partnership, after a trilateral meeting, at Naval Base Point Loma in San Diego, California U.S. March 13, 2023. REUTERS/Leah MillisSYDNEY, March 16 (Reuters) - Australian Prime Minister Anthony Albanese on Thursday defended the country's A$368 billion ($244.06 billion) plan to acquire nuclear submarines, after two former leaders criticised the deal over its cost, complexity and potential sovereignty issues. Unveiled on Tuesday in San Diego, the multi-decade AUKUS project will see Australia purchase U.S. Virginia-class submarines before joint British and Australian production and operation of a new submarine class, SSN-AUKUS. Opting for nuclear submarines in the U.S.-Britain alliance over conventional alternatives would leave Australia with fewer submarines while constraining the country's ability to operate independently of the United States, he said. Some analysts have argued nuclear submarines are preferable because their superior range and stealth will help protect Australia's trade routes from Chinese aggression.

☆ India, Australia aim to boost critical mineral trade in broader deal - ministers
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, March 11 (Reuters) - India and Australia aim to expand trade in critical mineral to help them achieve their goals on reducing carbon emissions, as they seek a broad trade pact, Indian Commerce Minister Piyush Goyal said Saturday. "India is short of critical minerals. Critical minerals, along with space technology and opportunities in the digital sector, will be key areas of the planned deal, Farrell said. India and Australia hope to complete by year's end an ambitious, comprehensive trade deal that has been stuck in negotiations for over a decade. It would expand on a free trade deal the two signed last year, the first between India and a developed country in a decade.

☆ Asia markets to trade mixed as Wall Street extends losses; Australia rate decision ahead
▼ + stars: | 2023-02-07 | by ( Jihye Lee | ) www.cnbc.com time to read: 1 min

Stocks in the Asia-Pacific were set to trade mixed on Tuesday, after Wall Street extended losses as investors digested last week's economic data that showed there's more room for the Federal Reserve to hike rates further. In Australia, the S&P/ASX 200 fell 0.12% as investors await Reserve Bank of Australia's rate decision. Economists polled by Reuters are expecting a 25 basis point hike. Australia's traded data is also slated to be released later in the day. The Nikkei futures contract in Chicago was at 27,705 while its counterpart in Osaka was at 27,680 against the Nikkei 225's last close at 27,693.65.

LONDON, Jan 12 (Reuters) - The yen got a boost on Thursday on expectations the Bank of Japan will review the side effects of its monetary easing, while the dollar held near a seven-month low against the euro ahead of U.S. inflation data later in the day. "You could start to see the normalisation of monetary policy which would be a huge step for Japan (and) a very positive tailwind for the yen," Turner added. The U.S. dollar index was last down 0.06% to 103.04, not far off its seven-month low of 102.93 hit earlier in the week. "Our core views for Fed policy versus ECB policy would be for a stronger euro-dollar through the year." Data released on Thursday showed Australia's trade surplus unexpectedly widened in November and came in well above forecasts.

☆ Yen jumps, dollar in retreat ahead of U.S. inflation data
▼ + stars: | 2023-01-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The yen last bought 131.50 per dollar. "The report is likely to add to the (yen) optimism," said Saktiandi Supaat, regional head of FX research and strategy at Maybank. Elsewhere, the dollar was adrift ahead of the closely watched U.S. inflation data, which could provide more clarity on how much inflation in the world's largest economy has moderated and on the Federal Reserve's rate-hike path. The U.S. dollar index fell 0.07% to 103.05, not far off its seven-month low of 102.93 hit earlier in the week. Data released on Thursday showed that Australia's trade surplus unexpectedly widened in November and came in well above forecasts.

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