Responding to Bloomberg reports that China plans to target Australian exports of wine, seafood, oatmeal, fruit and dairy products, Australian Foreign Minister Marise Payne said that she “would be disappointed if there were a process to merge these problems”.
“Australia will always be firm in protecting our national interests,” she added while speaking on ABC’s AM program.
Earlier today, Global Times, a Chinese media outlet, accused Australia of following in the footsteps of American hawks by pressing for an investigation into the origins of the coronaviruses.
The relationship between the two countries deteriorated further after China imposed an 80% tariff on Australian barley imports on Monday, alleging that the OZ economy had violated anti-dumping regulations.
The Australian dollar sees further weakness on the above comments, as the AUD / USD hits new session lows of 0.6531.
The spot extends its correction from the ten-week highs of 0.6586 reached Tuesday.