China on Friday said it would impose anti-dumping measures on Australian wine, in a further ramping up of tensions between Beijing and Canberra.
Importers of Australian wine will have to pay deposits of 107.1% to 212.1% starting Saturday, China’s commerce ministry said.
China – Australia’s biggest trade partner – has threatened economic retaliation since Canberra called for an inquiry into the Covid-19 pandemic, and has already suspended some timber and beef imports.
On Friday, the Ministry of Commerce said it was taking the temporary measure in response to “substantive harm caused to the relevant domestic wine industry.”
Wine exports to China hit a record A$1.3 billion (US$900 million) last year, according to Australian government data, making it the biggest market by value for the product.
Shares in Treasury Wine Estates Limited – which owns the popular Penfolds brands – sank more than 11% on the news.