In a significant development, China has prevailed in a lengthy dispute with Australia at the World Trade Organization (WTO) regarding tariffs on steel products. The dispute, which spanned nearly three years, originated during a challenging period in the bilateral relations between the two countries. Australia's trade minister announced on Wednesday that his government has accepted the WTO's ruling.

The dispute stemmed from Beijing's complaint to the WTO in June 2021 concerning Australia's imposition of additional duties on specific imports from China, including railway wheels, wind towers, and stainless steel sinks. Trade data indicates that transactions involving these products amounted to 62 million Australian dollars ($40.4 million) in 2022.

Following deliberations, the WTO panel overseeing the case in Geneva, Switzerland, determined that Australia's Anti-Dumping Commission, responsible for investigations, had acted inconsistently with certain provisions of the anti-dumping agreement.

Expressing acceptance of the WTO's decision, Australia's Trade Minister Don Farrell affirmed his country's commitment to a rules-based trading system. He stated that Canberra would engage with China and take necessary steps to implement the panel's findings. Farrell reiterated Australia's dedication to a functional WTO dispute settlement mechanism, essential for upholding the rights and obligations of all member states.

Trade tariffs have been a contentious issue between Beijing and Canberra, particularly since China imposed sanctions on Australian goods in 2020, marking a low point in bilateral relations. These tariffs were estimated to have cost the Australian economy around 20 billion Australian dollars ($13 billion). While many of the tariffs have been lifted amid efforts to improve relations, levies on certain products such as wine, rock lobster, and select abattoirs persist.

In April, Australia suspended a WTO complaint in an effort to restore access to the Chinese market for Australian barley, one of the items affected by the tariffs. This move was widely viewed as part of the Australian government's endeavors to mend ties with Beijing.

Furthermore, Australia opted to pause another WTO dispute against China regarding sanctions imposed on Australian wine, valued at approximately 1.1 billion Australian dollars ($720 million). This decision was made in exchange for China conducting a review, expected to conclude by the end of March.

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