The Albanese government is optimistic that a breakthrough over China’s punitive tariffs against Australian barley paves the way to lift the remaining trade sanctions that crippled $20 billion of exports at the height of political tensions between Canberra and Beijing.

In a big backdown by Beijing over its campaign of economic coercion against Australia, China will conduct a snap review of its tariffs on barley, potentially allowing it to avoid an adverse ruling by the trade umpire.