Australian wine makers bet on expected China reopening with big shipments to Hong Kong [Reuters]
TREASURY WINE EST S/ADR (TSRYY)
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Source: Reuters
CANBERRA, Feb 16 (Reuters) - Australian wine makers have shipped millions of bottles of wine to Hong Kong in a bet that China will soon lift tariffs on Australian wine and revive a trade worth hundreds of millions of dollars, according to industry figures and trade data. Australia sent wine worth almost $800 million to China in the year to November 2020, when Beijing responded to a call in Canberra for an inquiry into the origins of COVID-19 by blocking imports. Ad Break Coming Up Ad Visit Advertiser website GO TO PAGE But China has been lifting trade barriers on other goods as relations improve and Australian officials and industry expect a review of the wine tariffs begun by Beijing last year will lead to their removal next month. Australia's government said in December it was confident the tariffs would be lifted in early 2024. In November, Prime Minister Anthony Albanese was the first Australian leader to visit China in seven years, hoping to improve relations. A
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- China lifts tariffs on Australian wine, ends three-year freeze in trade [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The