China Proposes End to 220% Wine Tariffs, Australia Says

(Bloomberg) — Australian wine companies and politicians said China proposed lifting punitive tariffs on the nation’s wine, signaling the end of a three-year trade dispute as both countries seek to strengthen ties.

Treasury Wine Estates Ltd. referred to China’s plan in an exchange filing on Tuesday, adding that the final decision will be made in the “coming weeks.” The Ministry of Commerce in Beijing did not respond to a question about when they would release the report.