Business Chief Predicts China is on the Verge of Removing Tariffs on Australian Wine

Breaking Down Barriers: Australian Wine Industry Hopes for Tariff Lift on Chinese Imports

The Australian wine industry is hopeful that the Chinese government will lift heavy tariffs on their imports, according to a business lobby. David Olsson, the National President of the Australia China Business Council, expressed optimism at a meeting with Chinese Foreign Minister Wang Yi that China was “opening up” to foreign investment. Despite recent improvements in economic ties between Australia and China, there are still significant barriers to trade, such as high tariffs on Australian wine that have reached up to 218%.

However, the Australian government remains optimistic that these tariffs will be removed by the end of March. If this happens, it could mean a significant boost for the Australian wine industry, which has been looking for ways to diversify and explore other markets to reduce their dependence on China. While many producers are excited about re-entering the Chinese market once tariffs are lifted, not all of it will return.

The relationship between Australia and China is expected to remain complex, with ongoing geopolitical tensions shaping their economic interactions. Despite this uncertainty, Olsson emphasized that Australian businesses value the Chinese market and understand that they cannot expect a return to the pre-tension era. He acknowledged that geopolitical issues will continue to influence relations and urged businesses to remain cautious when making long-term investments in China.

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