China has officially eliminated tariffs of up to 220% on wine from Australia, according to a statement published this Thursday by the Asian giant’s Ministry of Commerce, which has been echoed by Australian media.
“It is no longer necessary to impose tariffs against unfair competition or compensatory tariffs on imports of the corresponding wines originating in Australia,” reads the text, which confirms a provisional decision announced earlier this month.
Five months ago, China agreed to review said tariffs imposed on purchases of that Australian product, worth approximately $12.99 billion in 2020 and 2021, when bilateral relations were at their lowest point.
The Asian giant always argued that the tariffs were directed against the anti-competitive behavior of the Australian wine industry. But from Canberra they have insisted that it was an act of political retaliation after the Government led by then Prime Minister Scott Morrison repeatedly clashed with Beijing. With RT