🍷 Cheers to new beginnings! China has announced it will lift the anti-dumping and anti-subsidy tariffs on Australian wine starting this Friday.
In a statement released on Thursday, the Ministry of Commerce noted that due to changes in China's wine market, it's no longer necessary to impose these tariffs on wines imported from Australia.
Australian Prime Minister Anthony Albanese welcomed the news with open arms, saying it couldn't have come at a better time for the Aussie wine industry.
According to a joint media release from Australian government agencies, Albanese highlighted that the return of Australian bottled wine to the Chinese market will be a win-win for both Australian producers and Chinese consumers.
Did you know? Back in 2019, Australia's wine exports to China were worth a whopping 1.1 billion Australian dollars (about $713 million USD)! That's a lot of vino flowing between friends. 🍇
China had implemented a five-year anti-dumping tariff on Australian wine starting March 28, 2021. But fast forward to November 30, 2023, and the Ministry of Commerce decided to reassess the need for these tariffs.
Lin Jian, spokesperson for the Chinese Ministry of Foreign Affairs, shared at a regular press briefing that China and Australia have been chatting it up recently, working through their concerns and seeing some positive vibes in their relationship.
China is eager to keep the good times rolling, with Lin mentioning that they are ready to strengthen dialogue and cooperation with Australia based on mutual respect and benefit. Sounds like everyone's raising a glass to healthier ties! 🥂
Reference(s):
China to lift anti-dumping tariffs on Aussie wine, Canberra welcomes
cgtn.com
