The Australian government announces relief from Chinese tariffs on wine exports.

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BEIJING - China has scrapped anti-dumping and anti-subsidy tariffs on Australian wine, signalling an end to a three-year campaign of trade pressure on Canberra and raising hopes for a revival of the billion-dollar industry.

The decision to remove trade curbs has raised hopes of reviving the lucrative wine trade between the two countries.

Rabobank estimated in August that Australia’s wine glut would continue for at least two years as it had 2.8 billion bottles of wine in storage — enough to fill 859 Olympic-sized swimming pools.

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Article Details

Category: EconomyBusiness

Markets: ThailandAustraliaChina

Topics: Wine Australian Australia China Last Scrapped Industry Imposed Beijing Trade Tariffs

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-03-28 @ 14:48:00 (1 months ago)

News Timezone: GMT +8:00

News Source URL: bangkokpost.com

Language: English

Article Length: 446 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bangkok Post

News ID: 20543068

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