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Treasury Wine Estates says China import tariffs to hurt local jobs – NEWS.com.au

Treasury Wine Estates says China import tariffs to hurt local jobs

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Penfolds owner Treasury Wine Estates (TWE) says the latest trade spat between Australia and China has put up to 30 per cent of the groups earnings in jeopardy. In a statement to the Australian Stock Exchange on Monday, TWE said it would be redirecting its luxury wines to other key markets as a result of Chinese trade authorities slapping Australian winemakers with new import tariffs.
On November 27, the Chinese Ministry of Commerce imposed tariffs of more than 200 per cent following allegations…

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