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☆ Australia, EU trade deal likely years away after talks fail
▼ + stars: | 2023-10-30 | by ( ) edition.cnn.com time to read: +2 min

Canberra — Australia has rejected European Union proposals for a free trade agreement, and a deal is now unlikely to be reached for several years, Australian government ministers said Monday. “I came to Osaka with the intention to finalize a free trade agreement,” Farrell said in a statement. “We just weren’t able to see the EU increase its offer for things like beef, sheep, dairy, sugar enough for us to think that this deal was in Australia’s national interest,” he told ABC Radio. The EU signed a trade deal with New Zealand last year that lowered tariffs for EU exports including clothing, chemicals and cars, and allowed more New Zealand beef, lamb, butter and cheese into the EU. “It’s disappointing the Europeans weren’t willing to put something commercially meaningful on the table,” National Farmers’ Federation President David Jochinke said in a statement.

Persons: Don Farrell, “, ” Farrell, ”, Murray Watt, —, Valdis Dombrovskis, Australia’s Watt, “ It’s, David Jochinke Organizations: Canberra, EU, Australian Trade, Australia, ABC Radio, New Zealand, National Farmers ’ Federation Locations: Australia, Europe, Osaka, New Zealand, Canada, South America, Zealand

☆ American economic power is potent but unstable
▼ + stars: | 2023-09-08 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +8 min

LONDON, Sept 8 (Reuters Breakingviews) - For the past 15 years, the iPhone has been a totem of U.S. economic power. If the country is cooling on the $2.8 trillion company, it’s a potent indicator of increasingly frosty relations with the United States. Perhaps most significantly, the U.S. government realised it could use the internet to spy on adversaries and the financial system to subdue them. The tendency of capitalism to produce a handful of giant companies, many of them headquartered in the United States, helped successive administrations exert their authority. A complete severing of economic links between China and the United States is hard to imagine.

Persons: Norman Angell, Thomas Friedman, Vladimir Putin, Edward Snowden, Henry Farrell, Abraham Newman, Johns Hopkins SAIS, Putin, Biden, ”, Farrell, Newman, Donald Trump, ” Farrell, Allen Lane, Jeffrey Goldfarb, Aditya Sriwatsav Organizations: Reuters, Apple, World Trade Organization, New York Times, National Security Agency, U.S . Treasury, Johns Hopkins, Georgetown University, WTO, Huawei, BNP, Biden Administration, Intel, U.S ., European, United, Thomson Locations: China, Beijing, United States, France, Russian, U.S, North Korea, Iran, New York, Washington, Sudan, Cuba, Ukraine, America, Russia, Germany, United, Europe

☆ Australia calls for China to end trade curbs as barley tariffs lifted
▼ + stars: | 2023-08-04 | by ( Lewis Jackson | Dominique Patton | ) www.reuters.com time to read: +4 min

Australian Trade Minister Don Farrell said on Friday that Chinese restrictions affecting roughly A$20 billion of annual trade as of last May had shrunk to hit about A$2 billion of exports. The U.S. Trade Representative’s office, which has sided with Australia in the trade dispute, declined to comment on China’s move to reduce barley tariffs. FILE PHOTO: Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. Wine producer Treasury Wine Estate’s shares reversed earlier declines to close 2.7% following the barley decision against an otherwise flat market. Chinese buyers had turned to Canada, France and Argentina to replace Australian barley supplies over the last three years, while Australian sellers shifted exports to feed barley markets in the Middle East.

Persons: Don Farrell, ” Farrell, Anthony Albanese, Florence, Lee McLean, Dennis Voznesenski, ”, Colin Bettles Organizations: SYDNEY, China’s Ministry of Commerce, World Trade Organization, Australian Trade, Labor, U.S . Trade, REUTERS, Wine, WTO, Rabobank, “, Grain Producers Australia Locations: BEIJING, Australia, normalisation, China’s, Canberra, China, Beijing, Canada, France, Argentina

Copper ore and concentrate imports are likely to resume if the talks go well, according to an official surnamed Wang at a Chinese copper smelter, who said smelters want extra supply from Australia. Australian copper accounted for just 5% of Chinese imports in 2019 but is an important source of supply in what is expected to become a tight global market. Australian copper returns to ChinahereChinese customs data showed 10kg (22.05 lb) of copper ore and concentrate in the first quarter of this year, roughly the same as 2022. China imported just over one million tonnes of copper ore and concentrate from Australia in 2019, according to customs data. Australian trade data showed A$78,000 worth of barley exports to China in January, the first since November 2020.

REUTERS/Siyi LiuAustralian trade data shows exports worth A$60.5 million ($41.04 million) of copper ore and concentrate to China in January, though the cargoes have not appeared in Chinese customs data. It was the first month of exports since December 2020, Australian data showed. Copper ore and concentrate imports are likely to resume if the talks go well, according to an official surnamed Wang at a Chinese copper smelter, who said smelters want extra supply from Australia. China imported just over one million tonnes of copper ore and concentrate from Australia in 2019, according to customs data, worth about $1.67 billion at the time. Australian trade data showed A$78,000 worth of barley exports to China in January, the first since November 2020.

March 3 (Reuters) - Lawyers for two former 21st Century Fox executives accused of bribing South American soccer officials assailed the credibility of the government’s star witness on Friday, as their seven-week trial draws to a close. Cooperating witness Alejandro Burzaco testified that his former business partners knew about and approved the bribes. The case is part of a sweeping corruption probe of global soccer and its governing body, FIFA. Full Play Group SA, a co-defendant in the case, is also accused of bribing soccer officials. The Argentina-based sports marketing company’s lawyers have argued bribery is an entrenched part of doing business in South America and therefore not fraudulent activity.

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