Head Topics

China lifts tariffs on Australian wine, ends three-year freeze in trade

  • 📰 globebusiness
  • ⏱ Reading Time:
  • 40 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 66%

Canada Headlines News

Canada Latest News,Canada Headlines

The tariffs were first imposed in March 2021 for a period of five years along with a host of other trade barriers on Australian commodities when ties soured after Canberra called for a probe into the origins of COVID-19

China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers.

“Given the situation in China’s wine market has changed, the anti-dumping and anti-subsidy tariff imposed on wine imported from Australia is no longer necessary,” the commerce ministry said in a statement. “We welcome this outcome, which comes at a critical time for the Australian wine industry,” the Australian government said in a statement.

Australian wine makers had been preparing for the dropping of Chinese tariffs for months. Trade data show almost 2.5 million litres worth of wine from Australia entering Hong Kong in December, up from around 685,000 litres a month in recent years and the most since September 2019. The removal of the Chinese duties means Australia will discontinue its legal proceedings at the WTO, according to the Australian statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

March for Fair Seniors’ Pensions set for March 21 in White RockSeniors Tin Cup march happens in Terrace, Vernon, Ladysmith and other B.C. locations
Source: TerraceStandard - 🏆 24. / 68 Read more »

March Madness: 32 Editor's Top Picks From Amazon's March SaleDive into the Amazon March Sale with our exclusive editor's picks.
Source: boredpanda - 🏆 18. / 72 Read more »

China lifts tariffs on Australian wine as bilateral ties recoverExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

China lifts heavy tariffs on Australian wine as ties improveBEIJING (AP) — China on Thursday said it will lift tariffs placed on Australian wine over three years ago, in a sign of improving ties between the two...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Hundreds of Tibetans march on New Delhi streets asking China to leave Tibet on uprising anniversaryOver 300 protesters gathered near India’s Parliament House chanting slogans and carrying Tibetan flags and photographs of their spiritual leader, the Dalai Lama
Source: globeandmail - 🏆 5. / 92 Read more »

China Set for Record Russian Oil Imports in March, Kpler SaysChina is on track to import a record amount of Russian crude this month, bolstered by large volumes of Sokol oil which have been shunned by India due to concerns over US sanctions, according to Kpler.
Source: BNNBloomberg - 🏆 83. / 50 Read more »