Termed by an industry leader as “an economic shock to the sector,” the Chinese wine tariffs imposed in 2020 saw a major downward turn for an export market previously worth over $1bn…
But, could there be new hope in reviving the market and rebuilding trade relations with China?
In a major break through – the Federal Government announced on Sunday that China has agreed to a 5-month review of tariffs they placed on Australian-made wine imports.
In exchange, it is understood Australia will suspend action against China in the World Trade Organization.
CEO Australia Grape and Wine Lee McLean says that while it is a very positive sign, there is still work to do.