No. 1 Australia
Australian wine seemed unstoppable in China before China announced the shocking anti-dumping and anti-subsidy investigations last August. What followed was temporary anti-dumping tariffs of up to 212% and another 6.4% anti-subsidy tariff on Australian wines three months later.
The impacts were significant and immediate. A rush of stockpiling from merchants following investigation announcement propped up the country’s wine imports in September first time in the year.
But as the tariffs took effect in November, Australian wine exports as a result nearly fell to zero in the last month of December. For the whole year, Australian wine exports to China shrank to 625 million euros, down by 19%, according to Chinese customs.
In March, Beijing officially imposed up to 218% punitive tariffs for the next five years, dashing any hope for Australian wine’s market prospect in its most profitable wine market.
After the two countries first signed a Free Trade Agreement in 2015, and over a period of four years of gradual tariff reduction, in 2019 Australia surpassed France to become China’s biggest wine exporter, taking up close to 40% market share.
This will change drastically due to the tariffs and the two countries’ worsening relations.