China removes punishing tariffs on Australian wine trade

The Ministry of Commerce said changes to the Chinese wine market meant it was no longer necessary to impose the trade restrictions. Robert Foye, the chief executive of Australia's second-largest wine company, Accolade Wines, said it was "very positive news for our business and for the whole Australian wine industry". "While we do not anticipate a snap back to 2020 levels, we do see a sizeable opportunity for our business in China, and we are excited about the long-term potential this market brings," Mr Foye said. Analysts from E & P earlier this month estimated that a restart of Australian…