Australia Dismisses China's Suggestion to Collaborate Against US Tariffs.
Australia has rejected China's proposal for collaboration on trade matters, choosing instead to diversify its trade relationships and lessen its reliance on China, its primary trading partner.
The Australian government has turned down a proposal from Beijing for joint efforts to tackle US tariffs, affirming its commitment to diversifying trade and diminishing dependence on China.
In an interview, Deputy Prime Minister Richard Marles stated that Australia will not collaborate with China on any global competitive matters.
Rather, the focus will be on advancing Australia's national interests and expanding trade internationally.
Australia intends to bolster trade connections with the European Union, Indonesia, India, the UK, and the Middle East.
Chinese ambassador to Australia, Xiao Qian, had called on Canberra to partner with Beijing to safeguard the global multilateral trading system.
At the same time, US President Donald Trump has declared a temporary lowering of tariffs on numerous countries, while still maintaining increased tariffs on China, raising them from 104% to 125%.
This action is anticipated to heighten the trade war between the world's two largest economies, posing a risk to Australia, which sends nearly a third of its exports to China.
The Reserve Bank of Australia has cautioned that the persistent uncertainty surrounding US tariffs and other trade barriers may dampen business investment and consumer spending in the country.
In an interview, Deputy Prime Minister Richard Marles stated that Australia will not collaborate with China on any global competitive matters.
Rather, the focus will be on advancing Australia's national interests and expanding trade internationally.
Australia intends to bolster trade connections with the European Union, Indonesia, India, the UK, and the Middle East.
Chinese ambassador to Australia, Xiao Qian, had called on Canberra to partner with Beijing to safeguard the global multilateral trading system.
At the same time, US President Donald Trump has declared a temporary lowering of tariffs on numerous countries, while still maintaining increased tariffs on China, raising them from 104% to 125%.
This action is anticipated to heighten the trade war between the world's two largest economies, posing a risk to Australia, which sends nearly a third of its exports to China.
The Reserve Bank of Australia has cautioned that the persistent uncertainty surrounding US tariffs and other trade barriers may dampen business investment and consumer spending in the country.
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