09 Apr China abolishes wine tariffs
In welcome news, China ‘s Ministry of Commerce has announced the abolishment of tariffs on Australian wine, which became effective as of 29th March 2024. Prior to the introduction of these punitive tariffs, mainland China was Australia’s most valuable export market, worth AU$1.3billion, a value which plummeted to AU$10million in the 12 months to December 2023.
Whilst the industry welcomes this change in stance, the Chinese wine market is now approximately a third of what it was several years ago, signalling the continued importance of a diversified export strategy for Australian wine producers.
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