Prime Minister Anthony Albanese announced the lifting of the ban on Australian lobster exports to China, marking a significant move to repair trade relations.
Beijing has imposed punitive tariffs on many Australian goods worth almost $15 billion. The end of the lobster ban represents a diplomatic victory for Australia.
Albanese's negotiations have paid off with China agreeing on a timeline to resume full lobster trade by year-end, highlighting the importance of this industry.
This shift in policy comes amid China's growing tensions with the US and Europe, showcasing Australia's crucial role in balancing those relationships.
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