China slams Australian wine with 218% tariffs for 5 years
China has announced its decision to impose up to 218.4% tariffs on Australian wines for a period of five years.
Tag: Treasury Wine Estates
Pernod Ricard rumored to buy TWE
Australian wine giant Treasury Wine Estates’ stock prices rose 8% on news of a potential buy-out from France’s biggest drinks and beverage owner, Pernod Ricard.
TWE’s Europe head resigns
Australian wine giant Treasury Wine Estates’ head of Europe, Middle East and Africa (EMEA) department has resigned two years on the job.
TWE profits down 24% due to pandemic and China tariffs
Global pandemic coupled with China’s crushing anti-dumping tariffs on Australian wines have shaved off 24% of profits for Australian wine giant, Treasury Wine Estates, parent company of Penfolds.
Police bust biggest fake Penfolds operation in China
An inter-provincial police operation led by Guangzhou police has seized the biggest haul of fake Penfolds in China, with wines worth over US$20 million.
TWE eyes other markets and a possible China production base
Treasury Wine Estates has announced today that it will pivot towards other luxury markets to offset its loss in China and hints at opening a new production base in the country.
China slaps up to 212% tariff on Australian wine
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.
Treasury halts Penfolds demerger amid China ordeal
Australian wine giant Treasury Wine Estates has officially halted its plan to demerge its most popular wine brand, Penfolds, as its biggest export market China mounts tariff threats and wine ban.
What’s next after China’s sweeping Australian wine ban?
In this explainer, we laid out all the facts surrounding China’s shocking ban on Australian wine imports, as well as reactions from Australian, Chinese governments, importers, logistics companies and wineries.
Australian mining magnate eyes to buy Penfolds
Australia’s mining magnate, Andrew Forrest, is eyeing to buy the iconic Australian wine brand Penfolds, after its parent company Treasury Wine Estates floated the idea of demerging the brand earlier this year.