NEWS
CHINA TO LIFT PUNITIVE TARIFFS ON AUSSIE WINES EFFECTIVE FROM TOMORROW
By Tony Zhu
28-3-2024
Source: Anthony Albanese/Facebook
China's Ministry of Commerce (MOC) announced today that it is removing the punitive tariffs on bottled wines from Australia effective from tomorrow.
The MOC said in a statement that it is no longer necessary to impose anti-dumping and anti-subsidy duties on Australian wine, it said the decision is due to "changes in the market situation of the relevant wines in China".
In response to China’s decision, Australian prime minister Anthony Albanese, foreign minister Penny Wong, and trade minister Don Farrell, said in a joint statement that they welcome China’s decision at this critical time for Australia’s wine industry.
“We welcome this outcome, which comes at a critical time for the Australian wine industry. The re-entry of Australian bottled wine into the Chinese market will benefit both Australian producers and Chinese consumers,” the joint statement said.
“We acknowledge and thank Australian grape growers and wine producers for their fortitude and support during a challenging period,” it added.
China has imposed punitive tariffs of up to 218 percent on Australian wines since 28 March 2021. The measures were supposed to last for five years.
Three years into the sanctions, Australian wine exports to China had shrunk from AUD1.2 billion to just AUD8.1 million in the first half of 2023.
The Albanese government is still lobbying China on removing remaining tariffs on commodities such as beef and lobster.
(the writer can be contacted at: info@thewinechronicle.com)
ALL RIGHTS RESERVED
**IF YOU THINK THE WINE CHRONICLE IS WORTH SUPPORTING, PLEASE MAKE A DONATION TO HELP US IMPROVE AND CONTINUE OUR WORK**
TRENDING│ FOCUS│ MISSION│ ABOUT US│ CONTACT
| 