©Reuters. Australian Trade Minister Don Farrell attends a news conference following a meeting with Chinese Trade Minister Wang Wentao, in Beijing, China, May 12, 2023. REUTERS/Florence Lo/Pool
By Lewis Jackson
SYDNEY (Reuters) – China will complete its annual review of tariffs on Australian wine by the end of March and is also reviewing restrictions on lobster imports, Australian Trade Minister Don Farrell said on Sunday.
Farrell said he hoped China would raise tariffs of up to 218% on Australian wine, first introduced in 2021, once the review was finished and that good progress was also being made on unofficial restrictions on lobster imports .
“This process () is coming to an end and by the end of March it will be completed,” he told Sky News on Sunday. “The Chinese Minister of Commerce confirmed this to me two weeks ago.”
However, Farrell said Australia would not hesitate to revive a World Trade Organization case against the tariffs if China did not remove them after the review, initiated by Beijing last year.
China has steadily eliminated trade barriers introduced since late 2020 on a range of products including barley, wine, coal and lobsters. The restrictions were part of a growing conflict over foreign investment and security that erupted when Australia called for an investigation into the origins of COVID-19.
Tariffs on wine and unofficial restrictions on lobster imports are among the few barriers remaining in place.
Farrell said China’s trade minister also told him a review of lobster restrictions was underway.
“Regarding lobster… I understand from the Chinese authorities that they are looking into the issue of our lobsters coming to China,” he said
“Everything is going in the right direction.”