China Scraps Tariffs on Australian Wine as Relations Improve

(Bloomberg) — China lifted its punitive tariffs on Australia’s wine exports, signaling an end to a three-year campaign of trade pressure on Canberra and raising hopes for a revival of the billion-dollar industry.

The Ministry of Commerce in Beijing announced the move on Thursday. The industry has been anticipating the announcement for weeks after some Australian vintners and lawmakers said the Asian nation had made an interim recommendation to lift the import taxes.