Australia’s trade minister Simon Birmingham weighed in on the truce struck over the weekend between the U.S. and China. Birmingham says the Australian government will be watching “very closely” to make sure the truce doesn’t put the squeeze on Australian ag exports.
The Guardian Dot Com says presidents Donald Trump and Xi Jinping reached a “ceasefire” in a conflict that continues to threaten global economic growth. One of the things Trump mentioned first after the ceasefire was announced over the weekend was that China had agreed to buy a “tremendous amount of food and agricultural products from American farmers.”
The Australian trade minister was in Osaka, Japan, for the G-20 and said the deal between Washington and Beijing must be compliant with World Trade Organization rules, allowing Australian farmers to compete with other exporters on fair terms. Birmingham said taking a “long-term perspective,” he felt it was good news that Trump and Xi appeared to be toning down the trade hostilities between the two countries. “However, we’ll be keeping an eye on the detail and monitoring the situation closely,” he said.