Via the AFR comes a huge laugh out loud:
China has changed its inspection procedures for iron imports under new rules that analysts say could be used to block Australia’s most important export, as trade tensions between the two countries escalate.
China’s Customs authorities said in a notice the new supervising rules, which take effect on June 1, mean customs officials would inspect iron ore at the request of the trader or importer.
Bring it on. If they want to drive the price to $500 per tonne then let ’em!
We can buy a US cruise missile capability with the dough and point it at Beijing!