China announces lifting of surcharges on Australian wine. Wine alone accounted for 33% of export revenues in 2020, according to Australian government data.
China remains Australia's largest trading partner and represents 30% of its exports. The Australian Prime Minister visited China in November to formally mark the thaw in relations between the two countries. The abandonment of sanctions against Australian wine is another symbolic step, in the process Canberra announced the abandonment of the procedure initiated against China at the World Trade Organization ( WTO ). “There is no longer any need to continue to impose anti-dumping and anti-subsidy duties,” China's Ministry of Commerce said.