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BEIJING: China will impose temporary anti-dumping measures on imported wine from Australia from November 28, the Commerce Ministry said on Friday (November 27), in a move likely to further increase trade and diplomatic tensions between Beijing and Canberra. .
Importers bringing investigated products will have to pay deposits to the Chinese customs authority, which will be calculated based on the different rates that the authority has assigned to various companies, according to the statement.
READ: Comment: Why China is turning sour on Australian wines
The rate required of Treasury Wine was 169.3 percent, the highest among all the wine companies mentioned in the statement. Shares of Australia’s Treasury Wine Estates Ltd, the world’s largest listed winemaker, fell more than 13 percent before being suspended pending an announcement.
China’s Commerce Ministry did not specify how long the measures will last. He said he examined samples from some Australian firms, including Treasury Wines, Casella Wines and Australia Swan Vintage.
AUSTRALIA ‘EXTREMELY DISAPPOINTED’
Later on Friday, Australia responded by saying it was “extremely disappointed” with China’s decision to impose preliminary tariffs on its wine.
“Today’s decision is a very worrying development and one that Australia will fight vigorously,” Australian Agriculture Minister David Littleproud said in a statement.
“The Australian government categorically rejects any allegation that our wine producers are dumping products into China and we continue to believe that there is no basis or evidence for these allegations.”
China launched an anti-dumping investigation into Australian wine imports in August at the request of the China Alcoholic Beverages Association. Earlier this month, the association called for retrospective tariffs on Australian wine imports.
Beijing’s latest move comes against a backdrop of growing tension between the countries after Canberra called for an international investigation into the origins of the new coronavirus.
China is the main market for Australia’s wine exports and is also Australia’s largest trading partner, trading two-way trade worth A $ 235 billion (US $ 170 billion) last year.
