Australia hopeful of end to China wine tariffs early next year

In an effort to further normalise relations between the two nations, Australia stated on Sunday that it was “very confident” that China would remove the import restrictions on Australian wine that it put in place three years ago in 2024. China has already done the same with other products. “I would be very confident that early in the new year we will get a favorable result from the Chinese authorities to lift the ban on Australian wine,” Australian Trade Minister Don Farrell told Sky News on Sunday. It is not “a unreasonable prediction,” according to Farrell, to anticipate China to reduce the remaining tariffs on Australian exports next year. He also expressed optimism that the tariffs on Australian lobster will be lifted “sometime in the near future.” China, Australia’s largest trading partner, raised taxes on a variety of Australian goods in 2020 after the government of former Prime Minister Scott Morrison demanded an international investigation into the origins of Covid-19. These products included wine, coal, barley, lumber, and beef. Australia and China’s bilateral relations became strained in 2017 due to a number of issues, including Canberra’s barring of Chinese corporations from 5G services in 2018 and Australian rules prohibiting foreign meddling. However, since Labor’s Anthony Albanese came to office in May 2022, trade and political connections between Australia and China have improved. Beijing has been easing trade restrictions against Australia; the most recent move was to stop importing meat products from three of the nation’s sizable slaughterhouses. According to official figures, Australia sent goods worth AUD 6 billion ($4.02 billion) to China between January and August after the Asian nation imposed blockades on the exports. China and Australia came to an agreement in October, according to the Chinese Ministry of Commerce, to settle their trade problems within the World Trade Organisation. (With agency inputs)