China makes massive increase in tariff for Australian wines
Kathmandu. China has increased the tariffs for Australian wines. China’s Commerce Department on Friday said it would raise heavy taxes on dumping of Australian wine. According to China’s Ministry of Commerce, Australian wines will be taxed at 107% to 212%.
Australian Trade Minister Simon Birmingham told reporters, “This is a devastating blow to those businesses who trade with China in the wine industry, it will render unviable for many businesses to continue their wine trade with China. And clearly, we think it’s unjustified.”
According to a report in The Guardian, the trade war between the two countries erupted after Australia, along with the United States and European countries, raised its finger at China and demanded an independent international inquiry into the coronavirus case and its efforts to control it. Australia has also criticized China over Hong Kong issue. Relations between the two countries have soured since Australia joined the US-led quad group against China in the Asia-Pacific.
China is one of Australia’s key trading partners. Australia exports 37% of their total wine exports to China, which amounts to $800 million. The increased tariffs come as a major blow to traders whose ships are already halted at the Chinese coasts.
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