Following a call from the China Alcoholic Drinks Association on behalf of the domestic industry last month, the country’s Commerce Ministry announced on Tuesday, it had launched an anti-dumping investigation into imports of wine from Australia.
Key details
“The anti-dumping probe will look at imports of wine from Australia in containers holding two litres or less in 2019.”
“It would also investigate any damage done to the Chinese wine industry from 2015-19.“
AUD/USD off weekly highs
AUD/USD has eased slightly off the weekly highs of 0.7229, as the aussie dollar bears the brunt of the renewed Sino-Australian tensions amid dovish Reserve Bank of Australia (RBA) August meeting’s minutes.
At the press time, the spot rises 0.15% to trade at 0.7220.
Share
