No. 6 The US
Import value: US$20.31 million
Import volume: 4.11 million litres
The China-US trade war has virtually upended American wine hope in mainland China. With rounds of retaliations, American wine exports to China slumped by 56.78% in value and 46.82% in volume, the worst performing country in the top 10 chart, in H1.
By June 1 this year, punitive tariffs slapped on American wines together with VAT and excise amounted to 93%, nearly double of regular taxes on imported wines.
What’s worse, China has announced a new round of punitive tariffs on American products including wine that’s expected to go into effect this December.
This would probably be the final nail on coffin.
Starting from December 15, tariffs levied on American wines will rise to 74%, bringing total taxes to 118.46%.
Unless China and the US decided to start all over and reset trade talks, chances for American wines to see a rise in China are unlikely.