China ambassador says Australia wine tariff review on track

[Pelican Press 0]

China ambassador says Australia wine tariff review on track

Workers harvest Shiraz grapes by hand at the Helen & Joey Estate vineyard in the Yarra Valley region of Greater Melbourne, Australia. China’s review of tariffs on *********** wine is progressing well, ******** Ambassador Xiao Qian said on Monday, but he stopped short of confirming an *********** government claim the dispute would be resolved this month.

Bloomberg | Bloomberg | Getty Images

China’s review of tariffs on *********** wine is progressing well, ******** Ambassador Xiao Qian said on Monday, but he stopped short of confirming an *********** government claim the dispute would be resolved this month.

“Currently, ******** authorities are reviewing and investigating our tariffs on *********** wine and things are moving on the right track, in the right direction,” Xiao told the *********** Financial Review Business Summit.

A day earlier, Australia’s trade minister said China would 

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 into the years-long wine tariffs by the end of March.

Beijing rocked some of *********** biggest export industries from coal to lobsters by imposing a host of tariffs starting in 2020 amid souring relations between the countries over Australia’s call for an investigation into the origins of the COVID-19 pandemic and other factors.

Australia responded by complaining to the World Trade Organization, or WTO, but said it would suspend its WTO disputes after China lifted the tariffs. The standoff over China’s tariffs of up to 218% on *********** wine ******** unresolved.

Tim Ford, the CEO of Australia’s biggest wine producer, Treasury Wine Estates, told the business summit his company had diversified since the tariffs effectively wiped out its biggest market but it was ready to return to China.

“We’re ready to go, should it change,” he said.

“We’ve got clear customer relationships we’ve maintained. We’ll keep doing what we’ve been doing. It’ll be a fabulous opening up.”

Australia, the world’s fifth-largest exporter of wine, had more than 2 billion liters, or about two years’ worth of production, in storage in mid-2023, the most recent figures show, and 

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 as owners rush to dispose of it at any price.

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World economy,Asia Economy,Treasury Wine Estates Ltd,Trade,Wine,Wineries,Sanctions and embargoes,China government,Ambassador,Australia government,Lobsters,Coal mining,Coronavirus,COVID-19 pandemic,COVID-19,********* investigations,Fair trade,World Trade Organization,Trade balance,Global trade,International trade,Import and export prices,business news
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