Beijing imposed tariffs on Australian wine in 2020 during a diplomatic feud, raising duties from zero to above 200 percent.<\/em><\/p>\n<\/div>\n

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China says it will lift steep tariffs on Australian wine imposed more than three years ago in the latest sign of improving relations between the two countries.<\/p>\n
The anti-subsidy and anti-dumping levies were first imposed in 2020<\/a> along with a host of other trade barriers during a diplomatic feud over Australia\u2019s support for a global inquiry into the origins of COVID-19. China had been Australia\u2019s top wine export market, and Australian wine producers took a heavy hit from the duties, which were above 200 percent.<\/p>\n
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 wine shipments would soon be removed.<\/p>\n
\u201cGiven the situation in China\u2019s wine market has changed, the anti-dumping and anti-subsidy tariff imposed on wine imported from Australia is no longer necessary,\u201d the Chinese Ministry of Commerce said in a statement on Thursday, adding that the decision will take effect on Friday.<\/p>\n
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 percent tariff advantage over wines produced in other nations.<\/p>\n
Australian wine accounted for 27.5 percent of Chinese wine imports before the duties were imposed. In the first six months of last year, they accounted for 0.14 percent as estimates put the cost of the tariffs for Australia\u2019s economy at 20 billion Australian dollars ($13bn).<\/p>\n
\u201cWe welcome this outcome, which comes at a critical time for the Australian wine industry,\u201d the Australian government said in a statement.<\/p>\n
\u201cSince 2020, China\u2019s duties on Australian wine effectively made it unviable for Australian producers to export bottled wine to that market. Australia\u2019s wine exports to China were worth $1.1 billion in 2019.\u201d<\/p>\n
The imposition of the tariffs had prompted the Australian government to lodge a complaint to the World Trade Organization (WTO). The removal of the Chinese duties means Australia will end its legal proceedings at the WTO, the Australian statement said.<\/p>\n
\u201cWe are willing to work with Australia to resolve each other\u2019s concerns through dialogue and consultation,\u201d said He Yadong, spokesperson for the Chinese Commerce Ministry.<\/p>\n
Australia\u2019s top publicly listed winemaker, Treasury Wine Estates, also welcomed the announcement and said it will start partnering with customers in China to expand sales and marketing as well as brand management.<\/p>\n
\u201cToday\u2019s announcement is a significant positive not only for Treasury Wine Estates, but also for the Australian wine industry and wine consumers in China,\u201d CEO Tim Ford said in a statement.<\/p>\n
\u201cThis is a medium-term growth opportunity that we will pursue in a deliberate and sustainable manner, focused on growing our portfolio in China.\u201d<\/p>\n<\/div>\n
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Source<\/p>\n
: <\/p>\n
Al Jazeera and news agencies<\/p>\n<\/div>\n
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Beijing imposed tariffs on Australian wine in 2020 during a diplomatic feud, raising duties from zero to above 200 percent. China says it will lift steep tariffs on Australian wine imposed more than three years ago in the latest sign of improving relations between the two countries. The anti-subsidy and anti-dumping levies were first imposed […]<\/p>\n","protected":false},"author":2,"featured_media":66284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[30],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/inews24.eu\/wp-content\/uploads\/2024\/03\/66283-china-lifts-steep-australian-wine-tariffs-as-relations-improve.jpg?fit=1920%2C1440&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/posts\/66283"}],"collection":[{"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/comments?post=66283"}],"version-history":[{"count":0,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/posts\/66283\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/media\/66284"}],"wp:attachment":[{"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/media?parent=66283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/categories?post=66283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/inews24.eu\/wp-json\/wp\/v2\/tags?post=66283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}