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China to Impose Anti-Dumping Deposits On Australian Wine

Published 27/11/2020, 12:24 pm
Updated 27/11/2020, 12:45 pm
© Bloomberg. 'Wine of Australia' is featured on a bottle at the Royal Star Wine experience center in Sydney, Australia, on Tuesday, Nov. 17, 2020. Australian wine exporters are watching stockpiles of product mount in warehouses as China, its biggest market, clamps down on shipments from the country. Photographer: Brent Lewin/Bloomberg

(Bloomberg) -- China will impose anti-dumping deposits on Australian wine from this weekend, in the latest sign of deteriorating trade tensions between the two nations.

The anti-dumping deposits will take effect Nov. 28 and range from 107.1 to 212.1%, the Chinese Ministry of Commerce said in a statement Friday.

Australia is the world’s most China-dependent developed economy and deteriorating diplomatic ties with Beijing have led to a string of its commodities exports being targeted. Australian wine has already been piling up in the country after China announced two trade probes earlier this year.

©2020 Bloomberg L.P.

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