November 17, 2021
Markets

Australia finds new markets for coal, barley amid China trade fight

A bucket-wheel reclaimer stands next to a piles of coal at the Newcastle Coal Port, in Newcastle, New South Wales, Australia, on Oct. 12, 2020.

David Gray | Bloomberg | Getty Images

Wide restrictions that China slapped on Australian exports are not as damaging as it was feared they’d be, because Australia is finding new markets for its goods.

Tensions between the countries have soared in recent months, deteriorating sharply after Australia supported a call for a global inquiry into China’s early handling of Covid-19.

Beijing has since taken several measures restricting Australian imports, ranging from levying tariffs to imposing other bans and restrictions. That has affected Australian goods including barley, wine, beef, cotton and coal. 

Collectively, the targeted exports were worth about $25 billion in 2019, or 1.3% of Australia’s gross domestic product, according to Australia-based…

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