The Australian Trade Minister, And Tehan, appeals to the World Trade Organization (WTO) to establish a dispute settlement committee to address the issue of customs tariffs barley imposed by China.
Australia is open to further discussions with China to resolve this matter, Tehan said.
The trade dispute between China and Australia dates back to May 2020, when Beijing imposed tariffs on barley grown in Australia, claiming that farmers had sold the grain in China at a cheaper price than it cost to produce.
Market reaction
The AUD/USD comes across a new offer and heads to 0.7700, since the US dollar returns to have buying interest before the European opening.
The pair is now trading at 0.7723, 0.23% less on the day.
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