Australian Agriculture Minister: Extremely disappointed with China’s decision to impose preliminary tariffs on wine

Dhwani Mehta FXStreet

Australian Agriculture Minister David Littleproud condemns China’s decision to impose preliminary tariffs on Australian wine, which he says will escalate diplomatic tensions between the two countries, per Reuters.

Key quotes

“Today’s decision is seriously concerning development and one which Australia will be vigorously fighting against.”

“The Australian Government categorically rejects any allegation that our wine producers are dumping product into China, and we continue to believe there is no basis or any evidence for these claims.”

Earlier in the Asian session, China’s Commerce Ministry announced that it will impose temporary anti-dumping measures on wine imports from Australia from November 28.

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AUD/USD is bouncing back towards the 0.7400 level, as the aussie dollar remains unperturbed by the Australian-Sino tensions amid a broadly weaker US dollar.

The spot was last seen trading at 0.7372, up 0.18% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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