Australia to refer China to the World Trade Organization over wine tariffs | Forex Factory

  • Australia to refer China to the World Trade Organization over wine tariffs

    From sbs.com.au

    Australia will take China to the World Trade Organization over China's imposition of tariffs on the country's wine. China's anti-dumping duties on Australian wine have seen local industry exports plummet from about $1.1 billion to just $20 million. "We believe that actions taken by the Chinese government have caused serious harm to the Australian wine industry," Trade Minister Dan Tehan told reporters on Saturday. The duties slapped on wines produced in Australia range between 116 per cent and 220 per cent, with China confirming in March that the tariffs would remain for five years. Mr Tehan acknowledged a WTO ... (full story)

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FXMasterZero
Jun 20, 2021 12:37am
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Time to go long on wine futures
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LloydOz
Jun 20, 2021 4:56am — Edited
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Most of the world (excluding China, currently) drinks Aussie booze for less than Aussies do, especially spirits - about $40 tax on a bottle in Australia. Roughly - $86 tax per litre of pure alcohol.

This conforms with the non-partisan puritan mentality of Aussie politicians, bureaucrats (especially them) and media.

Americans and others may be interested (horrified? pleased?) to learn that a pack of ciggies is about AUD$50 (mostly tax). Most of the worlds tobacco is grown in China. Australia probably pay them about 5 cents for the tobacco that goes into a pack.
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Tembi
Jun 21, 2021 7:03am
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Keep fighting China when those guys are still booming and you are deteriorating cos you depend on them
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