Beijing is reportedly considering lifting the tariffs on Australian wine, which have severely impacted the industry since 2020. An interim decision by Chinese authorities suggests that the duties are no longer necessary. The tariffs, reaching up to 220%, have caused a significant decline in the market value of Australian wine.
Beijing could lift its tariffs on wine as an interim decision by Chinese authorities reports duties are no longer needed. In October Beijing agreed to review the tariffs, which were first applied to wine at the height of China's diplomatic freeze . Beijing appears to be just weeks away from removing tariffs that have crippled Australia 's wine industry since 2020, with an interim decision by China's authorities reporting that the duties are no longer necessary.
The tariffs of up to 220 per cent applied to bottled wine and severed the market's value from $1.2 billion at its peak just before the tariffs were introduced, to about $10 million last year.Last October, Beijing agreed to a review of the tariffs that were first applied to wine at the height of China's diplomatic freeze, as the superpower accused Australia of anti-competitive behaviour. The review came after the former Coalition government referred the tariffs to the World Trade Organization (WTO) in late 2021, a dispute the Labor government has said would continue if the review does not lead to the removal of the tariff
Beijing Tariffs Wine Australia Industry Duties Market Value Review Diplomatic Freeze