Chatter on Tariffs, page-18

The original tariffs seem to have affected exports more than some thought .... Maybe TWE can get it back on track but who knows, it is China after all

https://www.cnbc.com/2022/06/21/aus...-close-office-in-china-as-exports-plunge.html

Australia’s leading wine authority to close office in China as exports plunge
PUBLISHED TUE, JUN 21 20222:14 AM EDT

Australia’s leading wine industry body Wine Australia will be closing its only physical office in China after sales to the greater China succumb to Beijing’s prohibitive duties.

“Wine Australia has made the difficult decision to close our physical office in Shanghai. This decision follows extensive consultation with the Australian grape and wine sector and is based on the current environment and market opportunity,” a Wine Australia spokeswoman said.

“Wine Australia will continue to maintain our brand presence in China via our wine trade and consumer facing social media channels, and will continue to work closely with in-market trade representatives on brand building and marketing campaigns.”

The once 1.2 billion Australian dollar-a-year trade ($830 million) has whittled down to just over AU$200 million at the end of March, an alleged casualty of the tension between the two countries.