A truck carrying iron ore moves along a road at the Fortescue Metals Christmas Creek iron ore mine located south of Port Hedland in the Pilbara region of Western Australia, November 17, 2015.
But it's worth noting that China's two main imports from Australia, iron ore and liquefied natural gas (LNG), were left untouched throughout the dispute.
China gets about 70% of its iron ore from Australia and about one-third of its LNG, some of it under a low, fixed-price contract signed two decades ago.
But overall it would seem that the ending of Beijing's trade actions against Australia will be net positive for both countries.
This suggests Beijing didn't learn the lessons from the trade tariffs imposed on it by the U.S. administration of former president Donald Trump.
Persons:
Jim Regan, hadn't, Beijing didn't, Donald Trump, Trump, Sonali Paul
Organizations:
Fortescue, REUTERS, China's Ministry of Commerce, Australia, Labor Party, Liberal, National, Labor, Canberra, Beijing, Reuters, Thomson
Locations:
Port Hedland, Pilbara, Western Australia, LAUNCESTON, Australia, China, China's, Beijing, Canberra, Indonesia, Russia, United States, India, Vietnam, U.S, Ukraine