China lifts tariffs on Australian wine, ends three-year freeze in trade

News Snapshot:

China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers. The tariffs, of up to 218.4 per cent, were first imposed in March 2021 for a period of five years along with a host of other trade barriers on Australian commodities when ties soured after Canberra called for a probe into the origins of COVID-19. Ties have improved significantly since last year, leading China to steadily lift trade hurdles on Australian goods ranging from barley to...