China scraps Australian wine tariffs

Australian winemakers can raise a glass to a brighter future.

On Thursday, China’s commerce ministry (MofCom) announced it will scrap punitive tariffs on Australian wine.

Some context: In 2021 Beijing introduced wine tariffs of 218.4%, one of several punitive measures it took against Canberra during a period of heightened tensions during the Scott Morrison government.

• There’s been a significant thaw in Sino-Australian ties since then.

The removal of the tariffs was widely expected.

• In October, China agreed to launch an “expedited review” of the tariffs ahead of Prime Minister Anthony Albanese’s November trip to China.

Get smart: Wine is a good start, but there’s been no word on when or if China plans to remove punitive tariffs on other Australian goods like beef or lobster.

• We’ll be watching to see if Premier Li Qiang’s planned trip Down Under later this year produces a breakthrough.