market for these goods globally

If Australia could adapt to losing the Chinese market for its coal, will Trump’s tariffs on China really be so bad? It is important not to draw the wrong lessons from this experience. Australia’s vulnerability lies in how much its exports rely on the Chinese market, the high share of these goods on Australia’s total exports and China’s share of the market for these goods globally. Energy is crucial to Australia’s trade with China, but its most important commodity is by far iron ore. In 2023, China purchased 84 per cent of Australia’s US$85.4 billion iron ore exports. Iron ore accounted for 23 per cent of Australia’s total exports in 2023. Finding alternative buyers would be difficult — China purchased 69 per cent of global iron ore exports in the same year. สล็อต เว็บตรง