Australia’s largest wine company, Treasury Wine Estates, says its imports into China have been slugged with a massive 169.3 per cent tariff, and it will implement emergency measures to minimise the damage.
- Australia’s biggest winemaker is valued at over $6 billion
- Treasury’s well-known brands include Penfolds, Wolf Blass and Lindeman’s
- Its shares have dropped more than 50pc since January
Trade relations between Australia and China deteriorated even further late last week after Beijing…