China Imposes Sanctions against Australia
OREANDA-NEWS. Bloomberg agency reported that Chinese authorities have decided to suspend imports of meat from four Australian slaughterhouses.
It is noted that Beijing imposed sanctions against Canberra for its anti-Chinese policies. The misunderstanding between the two countries arose against the backdrop of an initiative by the Australian authorities to investigate the circumstances of the outbreak of coronavirus epidemic in the world.
The four entities which are affected with restrictive measures account for about 35 % of beef exported to China. In addition, Beijing intends to introduce import tariffs for barley.
Share costs of the public-listed Australian Agricultural Company fell by 5.6%. It is the largest enterprise in the country, and the decline in its securities became the highest in six weeks.