China's duty clear on Australian wine will hurt Bordeaux sales, producers say
Reuters
Published Mar 28, 2024 11:26
PARIS (Reuters) - French Bordeaux wine exporters, who supply 9% of China's total wine and spirits imports, expect a rapid fall in exports after China's decision on Thursday to lift import tariffs on Australian wine.
France is China's first wine supplier and China is Bordeaux wine's largest export market in volume.
"Such trade agreements have a nearly immediate impact on our exports," CIVB spokeswoman Sara Briot-Lesage said.
A free trade agreement between France and Japan that went into force in early 2019 had led to a rapid jump in exchanges between the two countries, she said.
"This will likely happen rapidly between Australia and China. Those who don't have free trade deals will be penalised," she added.
China will lift anti-dumping and anti-subsidy tariffs on Australian wine from March 29, the Chinese commerce ministry said on Thursday, ending three years of punitive levies and offering long-awaited relief to Australian wine producers.
China still imposes import duties on French wine, which leaves the country at about 7.7 euros per bottle.
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Written By: Reuters
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