Treasury Wine will use partnerships with customers in China to distribute its Penfolds entry-level Australian origin portfolio as well as its Premium Brands Australian-sourced priority portfolio, it said. In addition to resuming distribution, it plans to expand sales and increase its marketing resources and brand investment in China. Sales diminished after tariffs of up to 218.4% were first imposed in March 2021 for a period of five years along with other trade barriers on Australian commodities when ties soured after Canberra called for an investigation into the origins of COVID-19.
BEIJING (AP) — China on Thursday said it will lift tariffs placed on Australian wine over three years ago, in a sign of improving ties between the two countries. China’s Ministry of Commerce said the decision will take effect Friday. China imposed tariffs on Australian wine in 2020 during a diplomatic feud, sending duties skyrocketing above 200%. The Australian wine market took a heavy hit from the tariffs, as China was Australia's top wine export destination. Trade tariffs have been a hot topic
(Bloomberg) -- A line from a 172-page book citing President Xi Jinping’s comments on the nation’s monetary tools became a hot talking point among stock and bond traders Thursday.Most Read from BloombergLondon Insurers Face Baltimore Bridge Payouts Worth BillionsBiden Gains Ground Against Trump in Six Key States, Poll ShowsJapan Amps Up Intervention Threat as Yen Hits Lowest Since 1990Trump’s Net Worth Hits $6.5 Billion, Making Him One of World’s 500 Richest PeopleUsing Your Premium Credit Card M
BANGKOK (AP) — Asian shares were mixed on Thursday after U.S. stocks broke out of a three-day lull to close at a record. Oil prices advanced, while U.S. futures edged lower. The dollar remained strong against the Japanese yen and Chinese yuan, a trend that has unsettled regulators in both Tokyo and Beijing. The dollar rose to 151.39 yen from 151.30 yen. The euro slipped to $1.0803 from $1.0828. On Wednesday, the yen dipped to its lowest level since 1990, and Japanese officials reiterated their d
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