In a recent statement, the Minister for Trade and Tourism, Senator Don Farrell, conveyed optimism regarding China’s ongoing review of tariffs on Australian wine. Following discussions with his Chinese counterpart, Commerce Minister Wang Wentao, during the World Trade Organisation talks in Abu Dhabi, Minister Farrell highlighted that Minister Wang assured him that the review processes were progressing as planned.
The Australian Government initiated this review process four months ago, aiming to address and remove what was deemed as unfair tariffs on Australian wine exports to China. The agreement included suspending the World Trade Organisation dispute over wine, providing for a fast-tracked Chinese review process. Minister Farrell, who has engaged in six meetings with Minister Wang over the past 18 months, expressed confidence in the positive outcome of the discussions.
During his conversation with the ABC, Minister Farrell emphasized the success of a similar process that resulted in the lifting of tariffs and bans on Australian barley, allowing Australian farmers to resume exports to China. He expressed hope for a parallel resolution for Australia’s winemakers.
Minister Farrell stated, “I’m very confident that the discussions I had yesterday with Wang Wentao will result in them carrying through on what they undertook to do, which was to expedite the review of the tariffs, and that we’ll get a result on that in a few weeks’ time.” He further iterated the government’s stance on wanting the bans lifted and indicated a willingness to resume the World Trade Organisation dispute if necessary, though he emphasized a preference for resolving trade issues through consultation.
The potential lifting of tariffs brings significant relief to Australian winemakers, with Australian Vintage and Treasury Wine Estates expressing positive expectations. Australian Vintage’s results report noted encouraging signals that China might commence reordering in the near future, while Treasury Wine Estates affirmed readiness to re-establish its Australian country of origin portfolio in China, contingent on a positive outcome from the ongoing tariff review. The resolution of this trade issue is eagerly awaited, with hopes for a mutually beneficial solution that allows both countries to move forward amicably.
