In case of emergency break glass for Recessionberg

In case of emergency break glass for Recessionberg

In case of emergency break glass for Recessionberg

Negotiators are drawing up six memorandums of understanding on structural issues: forced technology transfer and cyber theft, intellectual property rights, services, currency, agriculture and non-tariff barriers to trade, the sources said, as the two sides push for an agreement by March 1.

The indefinite coal restrictions at Dalian started this month and are part of an overall plan to cap imports into the customs region this year, Reuters reported, citing an unnamed Dalian Port Group official.

Australian Trade Minister, Simon Birmingham, has called the reports "unconfirmed and unsourced", and says the Australian Ambassador to Beijing is inquiring with authorities about the decision to clarify the veracity of the reports.

A Chinese media steel industry website says that China will obtain most of its coal imports in 2019 from Russian Federation and Indonesia, reports Sydney Morning Herald.

"If that's all we're talking about, the blocking of a couple of months of coal exports, then that's not going to derail the Australian economy", he told a parliamentary hearing in Sydney on Friday.

The ban on top supplier Australia comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days.

Treasurer Josh Frydenberg has cautioned people against jumping to conclusions as Australian officials continue talks with their Chinese counterparts to confirm reports of a reported ban on Australian coal imports.

News of the ban sent the Australian dollar tumbling in late afternoon trade.

To oversee the end of Australian exceptionalism would be unforgivable.

Spot Australian coking coal at northern Chinese port Jingtang is 200 yuan ($29.85) cheaper per tonne than domestic prices, according to data tracked by Orient Futures.

He said he would work with the coal industry on matters of market access.

Australia is the world's number one exporter of coal, while China remains its biggest trade partner, accounting for almost 30 percent of Australian sales overseas.

Derje disrupts Thiem music at Rio
Another upset saw third seed Marco Cecchinato fall victim to Slovenian tennis star Aljaz Bedene going down 5-7, 6-7 (1-6). Sousa was beaten 4-6, 6-3, 6-4 by Guido Pella of Argentina and Lajovic succumbed to Briton Cameron Norrie 6-2, 6-1.

Beijing has been trying to restrict imports of coal more generally to support domestic prices.

Currently, the ban is centred on coking coal used in steel making, but the fear is it will spread to other ports and to thermal coal used in power generation. Prices of thermal coal are approximately the same.

He noted both the value and volume of our coal exports to China were larger in the final quarter of 2018 compared with the previous year.

"I do expect the Government to update the nation very quickly", he said.

Mr Fletcher said Australia was aware that other countries were also experiencing "some difficulties" with their exports, but did not specify which ones.

"So, yes, we can see these occasional interruptions to the smooth flow but that doesn't necessarily translate to some of the consequences that aspects of the media might seek to leap to".

"This seems to be an escalation of what is already happening between China and Australia".

Reportedly, ships importing coal into China in recent weeks have faced uncommonly long delays in dealings with Chinese port customs. "One has to interpret it has having to do with the icy political relationship between Australia and China".

The news follows the Australian government's decision this month to cancel the visa of prominent Chinese businessman Huang Xiangmo andthe banning in August a year ago of Chinese telecoms giant Huawei Technologies from supplying equipment to Australia's 5G broadband network.

In the currency market, an index that tracks the dollar against a basket of currencies rose almost 0.2 percent, while the Aussie dollar was down 1 percent at $0.7092.

"The two-way trading relationship between Australia and China is important and strong, and it is in Australia's long-term national interests", he said.

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