Senator suggests sanctioning China as Australian response to tariffs
Deputy Leader of the National Party in the Senate Matthew Canavan has called for levies on iron ore exports to China in response to trade tariffs imposed on Australia.
Mr Canavan has proposed levies on iron ore exports as a way to compensate for money lost through China-imposed trade tariffs.
“I think we do need to respond to the illegal trade sanctions we’ve seen imposed by China,” Mr Canavan said to Scott Emerson on 4BC Breakfast.
“We can’t just sit back and do nothing.
“There’s one commodity the Chinese Communist Party have not attacked and that’s iron ore … because they really can’t get it from anywhere else.
“I have proposed a small levy on our iron ore exports that would help pay compensation for those impacted by Chinese sanctions.”
While he admitted the move could encourage China to seek iron ore from other countries, Mr Canavan believes this reconfirms the need to ‘diversify the number of clients we have for iron ore’.
“It’s puts you in a vulnerable position if they can shift away in the future,” he said.
Press PLAY below to hear the full interview.
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