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Prime Minister Tony Abbott Will Drop Free Trade Agreement with China Unless Australia Gets Same Conc

Posted October 06, 2014

Under Economic Issues, International Trade Issues

(John Garnaut – Sydney Morning Herald)

Australia is prepared to walk away from a much-touted free trade agreement with China unless there are major last-minute concessions on farm products, according to well-placed government sources. […]

Ultimately, they say, any deal will hinge on China's willingness to radically improve market access for beef, lamb, dairy, horticulture, wine and other farm products to at least match the access that China gave New Zealand farmers in a free trade agreement signed in 2008. [...]

Some sources emphasise that even a successful agreement will not radically improve Australia's $150 billion trade relationship with China, as Australia has already eliminated most import barriers and China does not impose border restrictions on commodities imports. Read more here.