Overview

• Australia has agreed to suspend its WTO case against China's barley tariffs for several months while China conducts an expedited review.
• The agreement creates a path to resolve the barley dispute and paves the way to settle other trade issues between the countries.
• China imposed an 80% tariff on Australian barley in 2020, costing Australia over $3 billion in lost revenue.
• Australia's new government is taking a less confrontational approach to China to prioritize the resumption of trade.