China's tariffs slam door shut on Australian wine's export

China's tariffs slam door shut on Australian wine's biggest export market. Positive for Indian Liquor, McDowell and United Breweries
Expects positive for Indian liquor stocks like McDowell and United Breweries after China announced hefty duty on Australia wine. China on Friday added wine to the growing list of Australian goods barred from its markets in a trade war against Australia over disputes including its support for an inquiry into the origin of the coronavirus.
"Any deterioration in the trading relationship is disconcerting," economists at Oxford Economics wrote in a report last month. Exports of goods and services made up 22% of Australia's GDP in 2019. About a third of that went to China.
The trade dispute has already upended some industries: Australia's winemakers have denounced recent tariffs as incredibly damaging and they've been forced to look for new buyers in America and Europe.
The Ministry of Commerce imposed import taxes of up to 212.1 percent, effective Saturday, which Australia's trade minister said make Australian wine unsellable in China, his country's biggest export market.We always oppose chine goods and try to minimize the Chinese products we promote Make In India. Jai Bharat Jai Kissan.