China lifts tariffs on Australian Wine

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. Producers and exporters are excited by the decision, but say it could take years to recover as Australian wines reenter a changed market.

"The market in China is not the same as where we left, but having said that we know that the sentiment for our products over there is just tremendous so there's a lot of excitement already in the trade, and this move I think will just only emphasise that level of excitement." Prior to the sanctions, companies like Royal Star structured their business around China's appetite for Australian wine.

Australian Grape & Wine chief executive Lee McLean says it could potentially take a decade for the market to recover. Meanwhile, Chilean and French wines have stepped in to the fill the gap in the market for China's strong demand for wine.

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