Business
Australian cotton the latest casualty in trade tensions with China – ABC News
Chinese mills have been told to stop buying Australian cotton, industry bodies say, while government insiders warn that new trade tariffs might be on the way.
Australia’s cotton industry is bracing for what could be a devastating blow as it becomes the latest casualty in the escalating trade tensions with China.
Key points:
- Chinese mills have been “discouraged” from buying Australian cotton, Government sources say
- There are fears a 40 per cent tariff could be imposed on the trade
- Australia sells about $800m worth of cotton to China annually
Mills in China are being told to stop buying Australian cotton as spec…
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