Australia, China Agree on Pathway to End Tariffs on Barley

Beijing imposed tariffs of over 80% on Australian barley in May 2020, after accusing the country of dumping the grain on the Chinese market. Photo: Bloomberg

(Bloomberg) — Australia will temporarily suspend a World Trade Organization case against China over tariffs on barley while Beijing undertakes a review of the restrictions, in a potential breakthrough to the long-running dispute between the two nations.

The Australian dollar gained as Foreign Minister Penny Wong announced the agreement alongside Trade Minister Don Farrell at a press conference in Adelaide on Tuesday. The duo said their goal was to achieve a similar agreement for China’s tariffs on Australian wine in the future.