SYDNEY – Beijing’s lifting of sanctions on Australian wine in late March marked a welcome turnaround in bilateral ties after years of acrimony, but it is not expected to rescue the struggling sector amid a fall in demand for wine in China and elsewhere.
Australia sold A$1.2 billion (S$1.06 billion) worth of wine in 2019 to China, which was then its largest bottled wine market. But the tariffs imposed in 2020 – which were as high as 218 per cent – sent sales plummeting.
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