Christopher Niesche: A look at China's punitive tariffs on Australian goods

Christopher Niesche: A look at China's punitive tariffs on Australian goods
16 May, 2021 01:00 AM
5 minutes to read
Treasury Wines has accepted the China market is effectively closed to it. Photo / Getty Images
OPINION:
If there was one business that we might have expected would be hardest hit by China's punitive tariffs on Australian goods, it was Treasury Wine Estates.
The winemaker had pinned its future to China,
in the expectation that the increasingly wealthy consumers of the world's most populous nation would keep buying up its Penfolds wine.
The strategy was working well and Penfolds had established a strong presence in China until last year, when the Chinese government slapped a 200 per cent tariff on Treasury Wine Estates' products, along with other winemakers.

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