Made-in-China Penfolds Wine will dodge crippling import tariffs
by Bloomberg May 18, 2022
Treasury Wine Estates Ltd. will soon release a made-in-China version of its famous Penfolds brand, dodging punishing import tariffs that are crippling Australia’s wine exports.
The first bottles will go on sale in China for between A$30 ($21) and A$50 in the second half of 2022, Treasury said Wednesday. Experiments with grapes from Ningxia, in China’s central-north, and Shangri-la in the south-western province of Yunnan, have produced “promising characteristics,” it said.
Beijing in 2020 slapped tariffs of as much as 200%—or more in some cases—on Australian-made wine as trade and diplomatic relations soured. That effectively cut off from Australian winemakers an estimated 52 million regular drinkers.
“We’re confident we can produce a premium Chinese Penfolds that maintains the distinctive Penfolds house style,” Chief Executive Officer Tim Ford in the statement.
Treasury in 2021 launched Penfolds Napa, sourced from California grapes, and a French version is due in 2023.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
Similar Stories
Freight forwarders helped make Brexit-era UK–EU trade manageable
As the UK marks ten years since the Brexit referendum, the British International Freight Association (BIFA) is highlighting the vital role played by its members in helping businesses adapt to…
View Article
Thailand launches FastPass program
View Article
The tariff environment changed the FTZ math. Here’s why the numbers finally work
View ArticleCMA CGM PSS - From Northeast Asia to West Africa
In a continued effort to provide customers with reliable and efficient services, CMA CGM informs its customers of the following Peak Season Surcharge (PSS).
View ArticleCMA CGM PSS - From Far East to the Mediterranean & North Africa 2026
In a continued effort to provide customers with reliable and efficient services, CMA CGM informs its customers of the following Peak Season Surcharge (PSS).
View ArticleCMA CGM: PSS - From China & Southeast Asia to West Africa
In a continued effort to provide customers with reliable and efficient services, CMA CGM informs its customers of the following Peak Season Surcharge (PSS).
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
