Australia to Be Exempt From New China Coal Tariffs

Reuters reported that Australia and China are aiming to sign a free trade agreement that will see Australia exempt from China’s recently implemented coal tariffs.

As quoted in the publication:

Australia and China are trying to seal a free trade agreement (FTA) before the end of this year after nearly 10 years of negotiations, in a bid to boost two-way trade already worth more than A$150 billion ($132 billion).

Amid the talks, Beijing stunned Australia this month by imposing a 3 percent tariff on coal used in steel mills and 6 percent tariff on coal used in power stations, hitting A$9 billion ($7.9 billion) worth of exports from Australian miners already reeling from a slump in prices.

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