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The decision scraps duties as high as 218% on Australian wine exports to China, its largest overseas market once worth more than 1 billion Australian dollars ($653 million). The Australian government said it welcomed Beijing’s decision “which comes at a critical time for the Australian wine industry.”“Since 2020, China’s duties on Australian wine effectively made it unviable for Australian producers to export bottled wine to that market,” the statement read. “There are a lot of people in the Australian wine industry who will be reaching out for a good glass of wine tonight and feeling a whole lot happier about their future,” Bruce Tyrrell, managing director of Tyrrell’s Wines in New South Wales, told CNN. Annual wine production hit its lowest point in more than 15 years during 2022-2023, Wine Australia said. Lee McLean, head of national association of grape and wine producers Australian Grape & Wine, said industry groups were working with the Australian government to “ensure a coordinated re-entry” into the market.

Persons: ”, “, that’s, ” Bruce Tyrrell, Lee McLean, ” McLean, Anthony Albanese’s, Albanese, Wang Yi, Penny Wong, Yang Hengjun, Wong Organizations: Sydney CNN, China’s Ministry of Commerce, Canberra, World Trade Organization, Tyrrell’s, CNN, Wine Australia, Global, Wine, China’s Foreign, Anthony Albanese’s Labor, China’s, Ministry, Australian Locations: Hong Kong, Sydney, China, Australia, Beijing, New South Wales, Wine Australia, United Kingdom, Europe, China’s

☆ As Relations Thaw, China Lifts Tariffs on Australian Wine
▼ + stars: | 2024-03-28 | by ( Natasha Frost | ) www.nytimes.com time to read: +1 min

In a sign of easing tensions between Australia and China, China said Thursday that it would lift the tariffs it placed on Australian wine more than three years ago. The tariffs, which were first imposed in 2020 amid a nasty diplomatic spat between Australia and China, had all but vaporized the country’s biggest overseas market, worth 1.2 billion Australian dollars or around $800 million at its peak. The decision to lift the tariffs was announced by China’s Ministry of Commerce. “That’s going to take some time to be depleted,” said Lee McLean, the chief executive of Australian Grape & Wine. “And China is not going to solve that on its own.”

Persons: Anthony Albanese, “ That’s, ”, Lee McLean Organizations: China’s Ministry of Commerce, Rabo Bank, Australian Locations: Australia, China

☆ The US needs a stable Chinese economy. Will Biden’s commerce secretary offer help?
▼ + stars: | 2023-08-24 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Hong Kong CNN —US Commerce Secretary Gina Raimondo will travel to China next week, a visit that coincides with a worsening slowdown in the world’s second largest economy. Gina Raimondo, US commerce secretary, speaks during the SelectUSA Investment Summit in National Harbor, Maryland, US, on Tuesday, May 2, 2023. The Commerce Department announced on Monday that it was removing 27 Chinese companies from US export controls. China’s Ministry of Commerce welcomed the decision, saying it was conducive to trade and reflected the interests of both sides. That was followed earlier this month by President Biden signing an executive order that limits US investment in certain tech sectors of the Chinese economy, including AI and quantum computing.

Persons: Gina Raimondo, Raimondo, ”, Craig Singleton, Ting Shen, Trump, Biden, “, Washington, Donald Trump, It’s, Xi, Singleton, — Kylie Atwood, Jeremy Diamond Organizations: Hong Kong CNN — US, Washington, Foundation for Defense of Democracies, Commerce Department, Beijing, SelectUSA Investment, Bloomberg, Getty, China’s Ministry of Commerce, ” Eurasia Group, Apple, Nike, Intel, Microsoft, General Motors, US Treasury Department, Mintz Group, Bain & Company, Communist Locations: Hong Kong, China, Beijing, Washington, Shanghai, National Harbor , Maryland, United States, Europe, Japan, New York, court

☆ China to lift tariffs on Australian barley as trade ties improve
▼ + stars: | 2023-08-04 | by ( Dominique Patton | Lewis Jackson | ) www.reuters.com time to read: +4 min

FILE PHOTO: Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. Australian Grape & Wine CEO Lee McLean said the barley decision was a very positive step for the country’s relationship with China. “We hope this may provide a template for removing the duties on Australian wine,” he said. Those trade flows are likely to shift again after China drops the tariffs, with its barley buyers expected to begin purchases of the new Australian crop harvested in October for arrival by year-end. ($1 = 1.5223 Australian dollars)($1 = 1.5232 Australian dollars)((This story has been corrected to change the value of Australian barley exports to A$1.5 billion, not A$2 billion, in paragraph 11)

Persons: Florence, Dennis Voznesenski, ”, Colin Bettles, Lee McLean Organizations: China’s Ministry of Commerce, REUTERS, World Trade Organization, Rabobank, “, Grain Producers Australia, WTO, Labor, & Wine Locations: BEIJING, SYDNEY, Beijing, China, Australia, Canberra, WTO, Canada, France, Argentina

☆ Australia calls for China to end trade curbs as barley tariffs lifted
▼ + stars: | 2023-08-04 | by ( Lewis Jackson | Dominique Patton | ) www.reuters.com time to read: +4 min

Australian Trade Minister Don Farrell said on Friday that Chinese restrictions affecting roughly A$20 billion of annual trade as of last May had shrunk to hit about A$2 billion of exports. The U.S. Trade Representative’s office, which has sided with Australia in the trade dispute, declined to comment on China’s move to reduce barley tariffs. FILE PHOTO: Bottles of Australian wine are seen at a store selling imported wine in Beijing, China November 27, 2020. Wine producer Treasury Wine Estate’s shares reversed earlier declines to close 2.7% following the barley decision against an otherwise flat market. Chinese buyers had turned to Canada, France and Argentina to replace Australian barley supplies over the last three years, while Australian sellers shifted exports to feed barley markets in the Middle East.

Persons: Don Farrell, ” Farrell, Anthony Albanese, Florence, Lee McLean, Dennis Voznesenski, ”, Colin Bettles Organizations: SYDNEY, China’s Ministry of Commerce, World Trade Organization, Australian Trade, Labor, U.S . Trade, REUTERS, Wine, WTO, Rabobank, “, Grain Producers Australia Locations: BEIJING, Australia, normalisation, China’s, Canberra, China, Beijing, Canada, France, Argentina

Gallium and germanium will be subject to export controls starting August 1 “to protect national security and interests,” China’s Ministry of Commerce said in a statement Monday. Gallium and germanium are used in a variety of products, including computer chips and solar panels. Beijing’s move comes just days after the Dutch government announced new restrictions on exports of some semiconductor equipment, drawing an angry response from Beijing, according to Reuters. The new rules mean that ASML (ASML), Europe’s largest tech firm, will need to apply for export licenses for products used to make microchips. Critics of the decision “could ask the US government why it holds the world’s largest germanium mines but seldom exploits them.

Persons: Janet Yellen, Yellen, — Olesya Dmitracova Organizations: Paris CNN — Beijing, China’s Ministry of Commerce, . Geological Survey, Reuters, China, US, Communist Party, Treasury Locations: Paris, United States, Europe, China, Beijing, Japan, Italy, Washington, Netherlands

☆ TikTok congressional hearing: CEO Shou Chew grilled by US lawmakers
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +6 min

TikTok, which has more than 150 million American users, was repeatedly hammered in the ongoing hearing where no lawmaker offered any support. PARENTS UNHAPPYRepresentative Diana DeGette, a Democrat, said TikTok's efforts to prevent the spread of misinformation on the platform were not working. REUTERS/Evelyn Hockstein 1 2 3 4 5"You gave me only generalized statements that you're investing, that you're concerned, that you're doing work. Wedbush analyst Dan Ives on Twitter said, "TikTok CEO testimony so far we would characterize as a 'mini disaster' for this key moment for TikTok. TikTok is now poster child of the US/China tensions and lawmakers have a lot of q’s with not enough concrete answers."

☆ TikTok CEO faces tough questions from Congress about Chinese influence
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

CEO Shou Zi Chew's testimony before Congress capped a week of actions by the Chinese company aimed at convincing Americans and their lawmakers that the app creates economic value and supports free speech. The House of Representatives Energy and Commerce Committee hearing will be chaired by Cathy McMorris Rodgers, a Republican who said she is unconvinced by TikTok's security commitments. Some political experts say a TikTok ban could be damaging to Democrats who have used the platform to reach younger voters. Three House Democrats rallied with TikTok creators on Capitol Hill on Wednesday in opposition to a ban. TikTok last week said President Joe Biden's administration demanded its Chinese owners divest their stakes or face a potential ban.

☆ TikTok CEO to face tough questions amid calls for U.S. ban
▼ + stars: | 2023-03-23 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

The House of Representatives Energy and Commerce Committee hearing will be chaired by Cathy McMorris Rodgers, a Republican who says she is unconvinced by TikTok's security commitments. "It's clear that TikTok will say anything to ... ensure that it is not banned in the United States," she told Fox News. Some political experts say a TikTok ban could be damaging to Democrats who have used the platform to reach younger voters. Three House Democrats rallied with TikTok creators on Capitol Hill on Wednesday in opposition to a ban. TikTok last week said President Joe Biden's administration demanded its Chinese owners divest their stakes or face a potential ban.

☆ New China Rule Threatens to Disrupt U.S. Solar Ambitions
▼ + stars: | 2023-01-31 | by ( Sha Hua | Phred Dvorak | ) www.wsj.com time to read: 1 min

SINGAPORE—A plan by China to restrict exports of key solar manufacturing technology could delay attempts to build up a domestic solar supply chain in the U.S., industry experts say. China’s Ministry of Commerce and Ministry of Science and Technology are considering adding advanced technology used in the production of ingots and wafers, some of the building blocks of solar panels, to a list of technologies that are subject to export controls.

☆ China decoupling takes one step forward, one back
▼ + stars: | 2022-11-29 | by ( Pete Sweeney | Thomson Reuters | Asia Economics Editor Pete Sweeney Joined Reuters Breakingviews In Hong Kong In September Previously He Served As Reuters' Chief Correspondent For China Economy | ) www.reuters.com time to read: +7 min

It has pushed for reshoring production of electric vehicles and silicon chips, and legislated to delist Chinese companies from New York. Europe, Japan, Australia and India have implemented their own measures ranging from restrictions on Chinese investment, excluding equipment from telecoms networks, and banning consumer apps. The impact the pandemic has had on Chinese supply chains has retroactively validated the push to separate. For politicians who hope to replicate the Chinese supply chain via tax tweaks, subsidies and sanctions, it’s worth remembering China started building out the requisite logistical infrastructure in the 1980s. Non-financial outbound direct investment in the same 10-month period rose 10.3% year-on-year to 627.4 billion yuan, Shu said.

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