The China Free Trade Agreement will be the biggest single policy expense in today’s budget update, costing around $4 billion over the four-year budget period, however it is not clear whether the government will seek to offset this with savings elsewhere in the budget. The agreement hits the budget bottom line because Australia is slashing the tariffs it charges on the $60bn of Chinese goods imported every year.

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Topics: REGIONAL INTEGRATION

Regions: ASIA-PACIFIC

Authors: THE AUSTRALIAN