China's Ministry of Commerce is lifting punitive duties on Australian wine as trade ties between the two countries improve after years of tension, the ministry said, AFP reports.
"In view of the changes in the market situation of relevant wines in China, it is no longer necessary to impose anti-dumping duties and anti-subsidy duties on imports of relevant wines originating in Australia," the ministry said in a statement, adding that the duties would be lifted on March 29.
In 2020, China imposed tariffs on key Australian export commodities such as wine, barley and beef after Canberra passed an anti-foreign influence law, banned Huawei from 5G contracts and called for an investigation into the origins of the Covid-19 pandemic.
But trade restrictions have eased since Australia's center-left government won the 2022 election and adopted a less confrontational approach.
Tariffs and barriers have now fallen on goods including Australian coal, timber, and barley.
"Based on the proposal of the Ministry of Commerce, the Customs Tariff Commission of the State Council has decided to suspend the imposition of anti-dumping duties on imported wines originating in Australia as of March 29, 2024; no anti-subsidy duties will be imposed after the suspension of anti-dumping duties," the Chinese ministry said in a statement. / BGNES
