China lifts tariffs on Australian Wine

FILE - Visitors wearing face masks walk past a display of Australian wines and other agricultural products at the China International Import Expo (CIIE) in Shanghai, China, Nov. 5, 2020. China on Thursday, March 28, 2024, said it would lift tariffs placed on Australian wine over three years ago, in a sign of improving ties between Australia and China.(AP Photo/Mark Schiefelbein, File) Source: AP / Mark Schiefelbein/AP

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The Australian wine industry has welcomed China's decision to abolish heavy tariffs on wine imposed during the COVID-19 pandemic. The tariffs, introduced at the height of diplomatic tensions in 2020, have seen exports worth $1.2 billion a year shrink to as little as $10 million.

In the latest sign of easing diplomatic tensions between China and Australia, Beijing has announced the removal of punishing tariffs on imports of Australian wine.

The Chinese Ministry of Commerce announced on Thursday (28 Mar) it was abolishing the tariffs - introduced in 2020 after a breakdown in relations under the Morrison government - to promote bilateral trade relations.