China slaps ‘devastating’ tariff on Treasury Wine Estates, including Penfolds | ABC News

The impact of worsening relations with China is also crippling many Australian businesses. With Beijing now imposing tariffs of up to 200 per cent, the country’s biggest wine company Treasury Wine Estates said that demand in China would be extremely limited from now on.
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The country accounted for 30 per cent of its earnings in the past financial year.
Emilia Terzon reports.

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