China to remove tariffs on Australian wine, signaling improved relations

China imposed a raft of sanctions on Australian goods in 2020 during the most recent nadir in the bilateral relationship. It is estimated that the tariffs cost the Australian economy 20 billion Australian dollars ($13 billion) China announced Thursday its decision to lift tariffs imposed on Australian wine over three years ago, marking a positive development in the relationship between the two nations. China's Ministry of Commerce stated that the decision would come into effect on Friday. The tariffs on Australian wine were initiated in 2020 amidst a diplomatic dispute over Australia's advocacy for a global inquiry into the origins…