China lifts tariffs on Australian wine, ends three-year freeze in trade [Globe and Mail, The (Toronto, Canada)]
TREASURY WINE EST S/ADR (TSRYY)
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Source: Globe and Mail, The
Ties have improved significantly since last year, leading China to steadily lift trade hurdles on Australian goods ranging from barley to coal, and raising hopes the punishing tariffs on shipments to Australia's top wine export market would soon be removed. “Given the situation in China's wine market has changed, the anti-dumping and anti-subsidy tariff imposed on wine imported from Australia is no longer necessary,” the commerce ministry said in a statement. Previously, Australian wines imported into China were subject to zero tariffs after the signing of a free-trade agreement in 2015, giving them a 14 per cent tariff advantage over many other wine-producing nations. In the first half of 2023, Australian wine accounted for only 0.14 per cent of Chinese wine imports compared with 27.46 per cent in 2020 before the duties were imposed, according to the commerce ministry statement. “We welcome this outcome, which comes at a critical time for the Australian wine industry,” the A
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