Australian Wine Industry Poised for a Boost as China Lifts Import Tariffs? Not Quite Yet, Says Experts.

Business Chief Predicts China is on the Verge of Removing Tariffs on Australian Wine

The Australian wine industry is expected to see a significant boost as the Chinese government considers lifting heavy tariffs on imports, according to a business lobby. David Olsson, the National President of the Australia China Business Council, expressed optimism that a substantial amount of Australian wine will re-enter the Chinese market once tariffs are lifted. However, he acknowledged that not all of it will return and many producers are looking to diversify and explore other markets to reduce their dependence on China.

During a recent meeting with Chinese Foreign Minister Wang Yi, Olsson emphasized that China was “opening up” to foreign investment. This comes as economic ties between Australia and China have been improving since the Labor government took office in May 2022, with Beijing gradually lifting trade sanctions imposed on Australian exports during the peak of tensions. Despite this progress, the heaviest remaining sanctions are on Australian wine, with tariffs reaching as high as 218%.

However, there is hope that these tariffs will be removed by the end of March. The overall expectation is that the relationship between Australia and China will remain complex, with ongoing geopolitical tensions shaping their economic interactions. The unpredictability and uncertainty surrounding long-term investments continue to be a concern for Australian businesses in China.

The Australian wine industry is expected to see a significant boost as the Chinese government considers lifting heavy tariffs on imports, according to a business lobby. David Olsson, the National President of the Australia China Business Council, expressed optimism that a substantial amount of Australian wine will re-enter the Chinese market once tariffs are lifted.…

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