China’s Ambassador to Australia Xiao Qian. Source: AAP Image/Mick Tsikas
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China’s Ministry of Commerce has finally ended its tariffs on Australian wine, which had been imposed for more than three years at rates as high as 218.4%.
The measures have had a catastrophic impact on Australia’s wine exports.
In 2019, Australia sold $1.24 billion worth of wine to China, surpassing France to capture a market share close to 40%. But by last year, this had collapsed to less than $1 million.
Dreams to diversify to new markets in the interim mostly fizzled. Last year, US imports of Australian wine actually fell by about 20%, the UK held flat, and sales to India remained trivial.
ABOUT THE AUTHORS
Weihuan Zhou is an associate professor and co-director of the China International Business and Economic Law (CIBEL) Centre at the Faculty of Law and Justice at UNSW Sydney.
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