Wine Spectator: Winemakers Ask, Is China’s Market Worth It?October 11, 2021
The worst-case scenario was a 50% tariff on bottled wine. That’s what most insiders in the Australian wine industry were thinking in fall 2020 after tensions spiked between the Chinese and Australian governments over the origins of Covid-19 and Australia’s ban on Huawei’s 5G network. Once again, it looked like the wine community was about to become collateral damage in a political dispute.
But when Chinese authorities announced a tariff of 218%? It was mind-boggling. “The tariffs were much higher than anyone anticipated,” admitted Rachel Triggs, general manager of corporate affairs and regulation for Wine Australia. The trade fight was the latest blow to international winemakers working to build a market in China. With 52 million wine drinkers and a total population of 1.44 billion, the growth potential is enormous—but so is the risk. Wine Spectator has the full story.—Suzanne MustacichSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.