Australia's agricultural sector has been remarkably resilient to PRC countertariffs and non-tarrif barriers. Australian Agricultural exports recovered in 2019, and have expanded in 2020 and 2021 despite the pandemic. This has complicated the PRC's retaliatory strategy because it's allowed most Australian farmers to weather the trade war with only a short-term impact to on-farm income. Australia had a couple of fortunate things that naturally helped it fend off Agricultural retaliation, including a bad multiyear drought that had already curbed exports and diversity in production that helps it handle market volatility. But the Australian government also acted quickly with promotions in new markets and targeted assistance to finding new export channels. The only Australian agribusiness sector that hasn't recovered is wine. This is in stark contrast to the very negative impact that the U.S.-PRC trade war had on the American farm sector and the responding bailout then Phase One. U.S. agriculture remains overly dependent on Beijing.

https://www.agriculture.gov.au/abares/research-topics/agricultural-outlook/agriculture-overview