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24 Nov, 2020 15:01

Trump tries to corner Beijing… but what does Australian wine have to do with it? RT’s Boom Bust finds out

Trump tries to corner Beijing… but what does Australian wine have to do with it? RT’s Boom Bust finds out

While the Donald Trump presidency may be ending, his administration is still taking hard-line measures to derail the Chinese economy. Now, over Australian wine imports.

Earlier this year, Chinese authorities launched an anti-dumping probe into Australian wine imports, citing an alleged “injury to the domestic industry.” The step came as Chinese wine merchants accused the Australian sellers of dumping cheap wine on China’s market.

According to senior Trump administration officials, Washington is pushing for new, severe steps against China. Following its ambitious plan, the White House calls for creating an informal alliance of Western nations to retaliate when China uses its trading power to suppress its partners.

Boom Bust host Brent Jabbour discusses this latest US move with co-host Ben Swann.

“The US feels of course that nothing can happen around the world without it being involved,” Swann says, pointing out that China is currently dominating the world over trade issues nearly everywhere.

The episode also looks into Trump’s latest punitive measures aimed at nearly 90 Chinese aerospace and other companies over their alleged ties to the Chinese military. The US administration is planning to restrict Chinese corporations from buying a wide range of US goods and technology.

For more stories on economy & finance visit RT's business section