As Australian coal exporters await the possibility of tariff removals in the Free Trade Agreement with China this afternoon, Grant Thornton Energy & Resources Partner, Brock Mackenzie thinks the proposed agreement is not only a win for local exporters, but also the broader Chinese economy.
“The removal or relaxation of coal tariffs is ultimately a good outcome for the broader Chinese economy as it leads to relatively cheaper energy prices.
“While Australia’s comparably high quality coal will always been in demand, any move by the Chinese government to relax protectionist practices regarding the importing of coal or other commodities is ultimately a good outcome for Australia exporters.
“While ideally they would be removed immediately, the phasing out of the coking and thermal coal tariffs is a tremendous result for local Australian exporters, and it continues the message that China is very much open for business,” said Mr Mackenzie.
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