China’s imposed anti-dumping duties on Australian barley could wipe more than half a billion dollars in value off the industry, according to a farmers group, as the levy is condemned by the government.
“Australia doesn’t believe that the decision China’s made is justified or defensible in accordance with anti-dumping practices,” Trade Minister Simon Birmingham told ABC Radio Tuesday.
“It is a significant and devastating hit to the Australian agriculture industry,” Mahar told ABC News.
China, which is the biggest buyer of Australia’s barley, will slap an anti-dumping duty of 73.6% and an anti-subsidy duty of 6.9% on the commodity, according to a statement from the Ministry of Commerce. The announcement made late Monday comes as tensions between the two countries simmer, with Australia calling for a probe into the origins of the coronavirus in recent weeks.
“We will probably be losing well over half a billion dollars at least in value. The trade between the two countries at its peak has been around A$2 billion. It’s a major loss to the economy, it’s a major loss to rural communities, ” Andrew Weidemann, Grain Producers Australia chairman told Sky News.
“It is within their power to remove these duties at any time during the five-year timeframe and we would hope they do decide to do that,” Birmingham said.