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A few Chinese-owned Australian wineries are reporting unfair treatment and abuse after a social media campaign emerged in Australia calling for consumers to boycott 41 Chinese-owned wineries in the latest wine-related trade spat.
China further inflicted more punitive tariffs on Australian wine today, less than two weeks after smacking a crippling 212% tariff. Is this the final nail on the coffin?
China’s October wine imports surged for the first time this year as merchants rush to stockpile Australian wines before any hefty punitive tariffs that have now come into effect this month.
China has announced today that it will slap up to 212% temporary anti-dumping tariff on Australian wine exports starting from this Saturday. See the full list of tariffs levied on each Australian company here.
In a significant escalation of tensions, China has ordered merchants to stop purchasing at least seven categories of Australian commodities including wine starting from this Friday, according to a leaked memo.
Australian wine exports surged 4% on steady global demand in the 12 months ended in September amid a pandemic and tariff threats from its most profitable market – China.
China has announced a second investigation today, targeting Australian wine subsidies, escalating tensions between the two trade partners.
Hong Kong listed company Madison offers grim warning of market outlook as it reports a 65.6% drop in Q2 revenue.
What Australian wineries and wine merchants in China are fearing the most is about to happen, as sources told Bloomberg that wine is among a list of potential agricultural products drawn up by Chinese officials to retaliate Australia over its push for coronavirus inquiry.
All gloves are off now. Just two weeks after the Chinese ambassador to Australia threatened boycott of Australian beef andContinue Reading