Jean MartinA trade conflict with China over tariffs on Australian wine may be resolved “in a few weeks,” Australian Trade Minister Don Farrell said on Tuesday, removing one of the final barriers curbing its exports to China.
Background of the Trade Dispute:
Australian wine exports to China were worth about $800 million in the year to November 2020.
However, that month, Beijing responded to a call in Canberra for an inquiry into the roots of COVID-19 by blocking imports of Australian commodities such as barley, wine, and coal.
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China has been lifting those trade barriers as relations improve. Australian officials and industry expect a review of the wine tariffs begun by Beijing last year, which will lead to their removal next month.
Ministerial Communication and Confidence:
Farrell said he had spoken with China Commerce Minister Wang Wentao on Monday, and the two sides were close to an agreement.
“I’m confident that the discussions I had yesterday with the commerce minister will result in them carrying through on what they undertook, which was to expedite the review of the tariffs, and that we will get a result on that in a few weeks,” he said in an interview with state broadcaster ABC on Tuesday.
Australia’s government said in December it was confident the tariffs would be lifted in early 2024.
