Australia’s Foreign Minister Payne: Taking China to WTO over wine tariffs enables negotiations
|Australia’s Foreign Minister Marise Payne said that he wants bilateral negotiations with China, adding that their complaint to the World Trade Organization (WTO) over Beijing’s anti-dumping duties on wine exports should enable bilateral negotiations, per Reuters.
Key quotes
"What lodging the dispute enables us to do is begin dispute consultation settlements, which actually is a bilateral discussion with China about the issues.”
"We've seen duties of over 200% applied to Australian wine. We don't believe that that is consistent with China's obligations under the WTO. So that part of the process enables us to have that direct conversation."
Market reaction
AUD/USD is wavering above 0.7500, trading choppy amidst falling Treasury yields, flatlined US dollar and risk-off mood in the Asian equities.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.