07 Dec Rising Yet Wary Optimism Surrounds Upcoming Wine Tariff Discussions
The recent announcement by the Prime Minister of China that it will expedite a review of the 220% wine tariff on Australian wine, as well as the Australian government’s suspension of its action in the World Trade Organization has seen optimism increase around the removal of this brutal wine tariff.
Whilst the review is anticipated to take 5 months, these positive steps have been welcomed by wine industry, who saw the value of Australian wine exports to China fall from over $1billion to $12million a year, post-tariff.
In addition, the cumulative effects of several seasons of challenging weather events, the COVID pandemic, an ongoing worldwide fall in consumer demand for wine, as well as the oversupply of wine, means the removal of the tariff is a vital boost for the industry.
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