China Lifts All Trade Barriers on Aussie Meat

China has lifted all trade restrictions on Australian red meat, reopening the market for two Queensland-based abattoirs and marking a significant warming in relations between the two nations. This move, following the lifting of previous bans on commodities like coal, barley, and wine, removes one of the last significant trade barriers imposed during a diplomatic row starting in 2020. Australian Prime Minister Anthony Albanese heralded this as a victory for Australian exporters, producers, and farmers, predicting record-breaking exports in the coming financial year. The reinstatement of trade is expected to enhance Australia's agriculture, fisheries, and forestry value to $94.3 billion, and create thousands of new jobs. Additionally, full trade for Australian lobsters is anticipated by year-end, following agreements made during the ASEAN summit with Chinese Premier Li Qiang. These developments underscore a broader restoration of trade ties, with China historically being a vital market for Australian beef, valued at $1.5 billion annually.