News / Australia extends subsidies for air cargo until June and looks away from China

Australia has extended air cargo subsidies until next June and unveiled plans to diversify trade away from over-reliance on China.

The International Freight Assistance Mechanism (IFAM) will receive an extra A$317.1m (US$226m), with $95m earmarked specifically to address upcoming seasonal demand.

Having already received A$350m since launching in April, IFAM subsidises Australia’s high-value, time-sensitive perishable exports, such as seafood, premium red meat, dairy, and fruits and vegetables.

Trade, tourism and investment minister Simon Birmingham, said: “This initiative will continue to keep Australian farmers ...