China drops tariffs against Australian winemakers in major breakthrough - after ... trends now
View
comments
China will drop punitive tariffs against Australian winemakers after a months-long review.
Beijing moved to scrap the tariffs on Thursday, with the cut off for the decision on Sunday.
It had agreed to a five-month review of the tariffs in exchange for Australia suspending a World Trade Organisation dispute against it.
An interim report from a Beijing-initiated inquiry into the measures recommended the tariffs be scrapped.
The trade in 2019, before the tariffs were in place, was worth $1.1 billion a year and would likely increase when restrictions were scrapped, Prime Minister Anthony Albanese said during a trip to a winery in Pokolbin on Thursday.
'We reckon that the resumption of trade, which we think is imminent, will see an even higher amount because that's what we've
