China ends tariffs on Australian wine
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The news: The federal government says it's been notified by China that it will scrap its tariffs on Australian wine from tomorrow.
The numbers: The prohibitive duties, in place since 2020, have had a damaging impact on the local wine industry. Australia’s wine exports to China were worth $1.1 billion in 2019.
The context: In a joint statement with Foreign Affairs Minister Penny Wong, Trade Minister Don Farrell and Agriculture Minister Murray Watt, Prime Minister Anthony Albanese said Beijing's decision "affirms the calm and consistent approach taken by the Albanese Labor Government and follows the success of the similar approach taken to remove duties on Australian barley".
The move also means Australia will discontinue its legal proceedings at the World Trade Organization, the statement said.
Tariffs on Australian barley and wine were among several measures imposed by China during a diplomatic dispute with the Morrison government in 2020.
Australia's top winemaker, Treasury Wine Estates, has previously said that once the tariffs were lifted it would be “well placed” to rebuild its business in China.
