Wine bottles from around the world fill shelves in the cellar of Trio Wine Bar in Beijing, China November 1, 2023. REUTERS/Florence LoSHANGHAI, Nov 3 -
The introduction of a 218% tax on most Australian wine introduced by China early in 2021 prompted that trade, previously valued as high as $1.2 billion annually, to collapse. Late last month, the two sides announced they had reached a consensus to settle the WTO wine dispute and that the anti-dumping tariffs, which weren't set to expire until 2026, would be reviewed, ahead of Australian Prime Minister Anthony Albanese's visit to China this month.
"I don't think that's realistic any time soon. However, for a lot of good quality Australian wine producers ... customers still know the wines and I think will re-engage with those wines fairly readily," he said.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »