I think the real question is why was there even a Tariff on Australian wine in the first place.
Because back in 2015 a free trade agreement was made and signed between Australia and China and together they formed a wonderful partnership especially a lucrative Chinese market for Australian beef and wine
And in 2019 their relationship grew stronger with China clearing all import duties on Australia wine which means Australian wine was imported to China with zero Tariff
What went wrong?
In 2020 Australia decided to order an international inquiry into the cause of covid 19 and that didn't go well with China plus other political decisions like excluding Huawei from 5G rollout and new security ties with the United States and the United Kingdom (AUKUS)
As a consequence Chinese ordered an inquiry and investigation into Australia wine imports and this caused China to impose over 200% anti dumping tariff on wine produced in Australia this action led to Australian wines becoming more expensive for Chinese consumers.
This caused Australia wine imports to shrink by 95% leading to financial losses and unsold wines
Therefore Australia wine companies have to look at other countries to sell their wine.
But later Australia filed an application to the WTO dispute settlement department to look into the Chinese Tariff.
China then decides to look into the tariffs once more and decides to suspend it for five months and before the end of the five month period the Tariff were completely lifted.
What's your opinion on this story