After months of deteriorating trade relations between Australia and China, Beijing have announced it will place crippling tariffs of up to 212% on all Australian wine imports – an enormous blow to a 1.2 billion a year industry.
Shares in Treasury Wine Estates, one of Australia’s largest exporters, plunged 11 per cent after the news broke, with the company’s trading coming to a standstill.
Tina Quinn spoke with Tony Battaglene, CEO of Australia Grape and Wine.
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