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China sets duties on Australian wine for 5 years as ties sour

BEIJING (BLOOMBERG) – China will impose tariffs of more than 200 per cent on Australian wine for five years, formalising curbs that have been in place for months amid an increasingly fraught relationship with Canberra.

Imports of Australian wine products will incur anti-dumping levies of between 116.2 per cent and 218.4 per cent with effect from March 28, the Chinese commerce ministry said in a final ruling on Friday (March 26).

Duties on Treasury Wine Estates, Australia’s largest listed winemaker best known for its Penfolds brand, are set at 175.6 per cent.

The top commodities buyer introduced the interim tariffs in November after it launched investigations into Australian wine…