China has hit four Australian meat works with import bans
AUD smashed lower, and the selling spreading to other currencies also
Local media reporting:
- China has imposed an import ban on four Australian abattoirs in an apparent escalation of Beijing's trade war tactics.
- blacklisting of the red meat abattoirs - three in Queensland and one in NSW - comes just days after China flagged plans to introduce an 80 per cent tariff on Australian barley,
- There are fears the barriers introduced by Australia's largest trading partner are in retaliation to Prime Minister Scott Morrison's demand for an independent investigation into the COVID 19 outbreak.
Warnings of this sort of action were in the works yesterday:
- Australia might face big problems if it continues to take unfriendly action against China
- AUD - China expected to announce tariffs on some Australian agriculture products