TWE 0.32% $12.44 treasury wine estates limited

News: TWE UPDATE 1-Australia's Treasury Wine says China trade body urges retrospective import...

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    Nov 4 (Reuters) - A Chinese beverages industry grouping has called for retrospective tariffs on some imports of Australian wine, the world's biggest standalone winemaker, Treasury Wine Estates (TWE) , said on Wednesday.

    The request to China's commerce ministry covers volumes of up to 2 litres (3.5 pints) and is linked to a wider anti-dumping probe into wine imports from Australia amid worsening ties between the trade partners.

    "The China Alcoholic Drinks Association has submitted a written request to the Chinese ministry of commerce that imports of Australian wine in containers of two litres or less...be subject to retrospective tariffs," Treasury Wine said.

    It was unclear whether the ministry would accept the request, it added in a statement issued after market hours.

    Any financial impact would only be clear after Treasury Wine concludes discussions with customers in China over future orders, the company added.

    Officials of the Chinese industry grouping were not immediately available for comment.

    Shares of Treasury Wine Estates closed down 3.1%, while the benchmark index (xjo) ended marginally lower.

 
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