Australia has welcomed China’s decision to lift tariffs on its wine, which were first imposed in 2020 as part of a diplomatic dispute. The increased taxes on Australian wine, amounting to more than 200 percent, resulted in significant economic losses for the country.
China’s move to lift the tariffs is seen as a step towards reconciliation between the two countries and a positive shift in their relationship. The decision will take effect on Friday, providing relief to Australian wine producers who have been impacted by the taxes for several years.
This development is welcomed by both Australian wine producers and the government, as it opens up new opportunities for the industry to regain its footing in the Chinese market. The move is seen as a positive development that will benefit both countries and contribute to the overall stability of their bilateral relationship.
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