Market Recap: 16th November

By Jesslyn Khor

This six-month feud has been the only consistent event during COVID-19 and it is steadily intensifying. Recently, Australian exports of seafood has been subject to delays and wine and barley have faced higher tariffs in Chinese markets. Chinese authorities are also reportedly discouraging firms from buying Australian coal, cotton, and timber. China comprises 1/3 of Australia’s exports of goods, but Commonwealth Bank of Australia calculates that 7% of all Australian exports have now been affected by the recent trade restrictions.