The World Trade Organization (WTO) notified this Wednesday the end of the trade dispute that was being maintained within the organization. China and Australia for the tariffs that the first of those governments imposed on imports of Australian wineand which were lifted on March 28.
The delegations of China and Australia to the world trade governing body previously informed the WTO itself that they had mutually agreed on a solution to the dispute, which formally began before the body in 2021.
Last week China announced the elimination of tariffs of up to more than 200% imposed since 2020 on wine imported from Australia as an “anti-dumping” measure, a decision that occurs in a context of normalization of bilateral and trade relations between both countries after years of disagreements .
The tariffs had been ordered in China shortly after the previous Australian Government, led by conservative Scott Morrison, requested an international investigation into the origin of covid-19.
Before the imposition of tariffs on Australian winethis product accounted for 35.5% of the imported wine market in Chinabut two years later it did not even appear among the top 10 exporters of that drink to the Asian giant.
France accounts for 46% of the share of Chinese imports, followed by Chili (22%), Italy (9%) and Spain (7%), according to 2022 figures.
Since the arrival to power in May 2022 of the Labor Party’s Anthony Albanese, who visited China last November, bilateral relations have progressed and Beijing has been lifting trade restrictions on several products, although they still remain in place for some.
Source: Gestion
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