China may punish Australia with trade curbs — but it can’t stop buying iron ore from Down Under



Huileng Tan | CNBC

Relations between China and Australia have been on a downward spiral in recent months, triggered by Canberra’s call for an international probe into the origins of the coronavirus, which was first reported in the Chinese city of Wuhan.

In what is seen as retaliation against Australia’s stance, Beijing suspended some beef imports, slapped hefty tariffs on barley and is reportedly considering more actions on products from wine to fruits.

On Thursday, Australia’s prime minister said he would not be intimidated by “coercion” after the moves from Beijing. “We are an open-trading nation, mate, but I’m never going to trade our values in response to coercion from wherever it comes,” Scott Morrison told local media on Thursday, according to a Reuters report.

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