The latest trade war casualty for Australia’s terms of trade is wool, via AFR:
The price of wool is falling steeply as China’s textile industry feels the fallout from the trade war with the United States, and European economies weaken. with industry leaders bracing for worse to come.
Australian wool prices are back to 2016 levels with growers withdrawing bales from auctions after more price falls last week linked to reduced demand from Chinese consumers and Italian producers of woven cloth.
