A typical view of an Australian flag is seen during a reception for the then Prime Minister of Australia Julia Gillard on 9 April 2013 outside the Great Hall of the People in Beijing, China.
Feng Li | Getty Images
China will implement temporary anti-dumping measures on liquor imported from Australia on November 28, the Commerce Ministry said on Friday on the possibility of escalating trade and diplomatic tensions between Beijing and Canberra.
The statement said importers bringing in the examined products would have to pay the deposit amount to the Customs Authority of China, which would be calculated on the basis of different rates, which the authority has assigned to various companies.
Treasury wines had a rate of 169.3%, the highest among all named wine firms in the statement. Shares of Australia’s Treasury Wine Estates, the world’s largest listed wine producer, fell more than 13% before an announcement was put to a pending trading halt.
China’s Commerce Ministry did not say how long the measure would last. It added that it looked at samples from some Australian companies, including Treasury Wines, Cassella Wines and Australia Swan Vintage.
A spokesman for Australia’s Trade Minister Simon Birmingham did not immediately respond to a request for comment.
China launched an anti-dumping investigation on Australian alcohol imports at the request of the Chinese Alcoholic Beverage Association in August. Earlier this month, the association called for retrospective tariffs on Australian wine imports.
Canberra called for an international investigation into the origin of the novel coronovirus against the backdrop of rising tensions between countries following Beijing’s latest move.
China is the top market for Australian wine exports and is also Australia’s largest trading partner with two-way trade worth A $ 235 billion ($ 170 billion) last year.