China's wine market ready to welcome likely return of Aussie wine as ties improve

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Penfold's maker, Treasury Wine Estates, said in 2022 it had lost 97 per cent of its China business due to the introduction of the tariffs. Read more at straitstimes.com.

would be reviewed as part of a push to improve the relationship between the two countries was cheered by many, including Mr Campbell Thompson.

The introduction of a 218 per cent tax on most Australian wine introduced by China early in 2021 prompted that trade, previously valued as high as US$1.2 billion annually, to collapse. Late in October, the two sides announced they had reached a consensus to settle the World Trade Organisation 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 in November.

"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.

 

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