China notified Australia on Dec. 20 that it’s officially resuming imports of Australian live rock lobster that Beijing had restricted for years (see 2410110007), Australia’s foreign affairs ministry said last week. Australia called the announcement a “major win for our hard-hit live rock lobster industry,” and it shows the value of a “patient, calibrated, and deliberate approach towards stabilising Australia’s relations with China."

Chinese trade associations are urging domestic firms to be careful when buying U.S. semiconductors and semiconductor equipment in light of the new set of export controls released by the Bureau of Industry and Security this week (see 2412020016).

China’s Foreign Ministry objected to a new set of export controls the U.S. is reportedly planning to announce in the coming days, saying it’s opposed to the “U.S. overstretching the concept of national security, abusing export control measures and making malicious attempts to block and suppress China.” A ministry spokesperson told reporters Nov. 25 that the new controls would disrupt international trade and global supply chains. “China will take resolute measures to firmly defend the legitimate and lawful rights and interests of Chinese companies,” the spokesperson said.

China has been “consistently” building a set of policy tools it can use to retaliate against the U.S. and other countries in response to trade controls or other restrictions, and companies could soon start seeing China deploy those tools more frequently, said David Hathaway, a consultant on China issues for The Asia Group.

South Korea should be invited to join the Group of 7 nations because of its willingness to work with the U.S. and other allies in imposing sanctions and export controls against Russia, the country’s former foreign affairs minister said this week.

Chinese and South Korean officials met in China last week for an export control “consultation” to share information about their respective export restrictions, according to an unofficial translation of a Chinese Ministry of Commerce notice. The officials also held “in-depth exchanges” with industry officials who also attended the meeting, China said. “The two sides agreed to further strengthen communication and cooperation, promote the development of bilateral compliant trade, and jointly maintain the stability and smoothness of the global industrial chain and supply chain.”

China renewed its antidumping duties on imports of nitrile butadiene rubber from South Korea and Japan, the country’s commerce ministry announced Nov. 8, according to an unofficial translation. The duties, originally imposed in 2018, range from 12% to 37.3% for South Korean companies and 16% to 56.4% for Japanese companies. The rubber has oil, water and heat-resistant properties and has uses in the industrial and mechanical industries. The duties will remain in place for five years from Nov. 9.

Australian Trade Minister Dan Farrell and Chinese Commerce Minister Wang Wentao met to discuss trade issues this week ahead of the China International Import Expo trade show in Shanghai, the two countries said.

Indonesia has agreed to “restore an accelerated track” for the U.S. to export apples to the country, the Office of the U.S. Trade Representative said in a Nov. 1 emailed press release. Indonesia agreed to allow the exports after “extensive engagement” by both USTR and USDA, the agency said, adding that the Indonesian measure was an “unjustified” trade barrier. USTR said it will “monitor implementation of this fast-track channel closely and make sure that U.S. producers, growers, and exporters can continue to export U.S. products.”

New U.S. outbound investment restrictions on China (see 2410280043) will hurt both Chinese and American firms and “interfere with the normal economic and trade cooperation” between the two countries, a Chinese commerce ministry spokesperson told reporters this week, according to an unofficial translation. China “firmly opposes” the new rules and has “lodged solemn representations” with the Biden administration, the spokesperson said, adding that the “vast majority of industries related to these areas do not involve national security, but they will all be restricted by the U.S. ban.” China “reserve[s] the right to take measures” in response.