China lifts tariffs on Australian Wine

The Australian wine industry has welcomed China's decision to abolish heavy tariffs on wine imposed during the COVID-19 pandemic. The tariffs, introduced at the height of diplomatic tensions in 2020, have seen exports worth $1.2 billion a year shrink to as little as $10 million. Producers and exporters are excited by the decision, but say it could take years to recover as Australian wines reenter a changed market.