Once again, the Sino-Australian trade tussle has emerged this Wednesday, as China suspends its imports from a ninth Australian meatworks, per ABC News.

ACC becomes the ninth Australian meatworks to be suspended from trading with China since May last year.

Key quotes

“Brisbane-based Australian Country Choice (ACC) was alerted by Australian authorities this morning that its trade to China has been suspended from October 18.”

“ACC said that Chinese authorities had detected a chemical often used to treat bacterial infections in dogs in meat that had been processed at its Cannon Hill abattoir.”

“ACC said chloramphenicol was a drug used to treat bacterial infections in dogs and sometimes horses, but was not prescribed for use in cattle in Australia.”

Market reaction

AUD/USD, as well as USD/CNY, are unperturbed by these headlines, as the risk tone remains on the positive side in Asia.

AUD/USD is closing on in the 0.7500 level while USD/CNY tumbles to fresh four-month lows.