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Wine exports to China crash on tariff hit

AFR reports that Australian wine exports to China crashed to just $12 million in the four months ended March 31 from $325 million a year earlier, as punishing tariffs meant it was almost pointless for Australian producers to try to ship wine to that country.

New figures from industry body Wine Australia detailed the full extent of the hefty tariffs of up to 212 percent which have been placed on bottled products from Australia by the Chinese government in a spat that has also enveloped other industries including barley, lobsters and coal as geopolitical tensions worsen.

 

Read more on the AFR website.