China cancels tariffs on Australian wine

China is removing its heavy tariffs on Australian wine and the move is the latest sign that once-sour economic relations between the two countries are improving. China's Ministry of Commerce announced on Thursday that Beijing would lift the anti-dumping and anti-subsidy tariffs of as much as 218 percent from Friday.
A spokesperson for the ministry said China and Australia are mutually important trade partners and the two sides will facilitate the stable and healthy development of their economic and trade ties. Australian Prime Minister Anthony Albanese issued a joint statement with his trade and agriculture ministers on Thursday welcoming the tariff removal.