Agriculture Trade War Stories: Not All Are Bad

CANBERRA, AUSTRALIA – Many farmers and ranchers know what a trade war with China looks like, after living through one a few years ago. Few, however, have experienced a better situation during the trade dispute than before the two factions saw relations sour. According to the latest international trade figures from Australia’s Bureau of Statistics, the nation enjoyed a growing trade surplus – $9 billion in December, up $1.6 billion from a month earlier. It appears on the surface that the Chinese have been hurt more as wheat shipments to Beijing are up 423 percent and barley exports are 254 percent higher. On the downside, Australian farmers and ranchers have seen disruptions to beef, lobster, timber, wine and cotton exports. One area of optimism is in the area of regional partnerships. The Trans Pacific Partnership (TPP) that the United States was a part of prior to former President Trump pulling out, has been signed by Australia and 14 other countries and is now the Regional Comprehensive Economic Partnership (RCEP). Trade experts believe any commodities facing Chinese retaliation should find a home in other export markets.
(SOURCE: All Ag News)