HUNTER VALLEY, Sydney: Like fellow wineries across Australia, Mr Bruce Tyrrell has had a strong three times.
Grapes like his lost a total of US$ 1.2 billion in business when China successfully imposed tariffs of up to 218 per share in 2020, putting an end to Australia’s wine industry.
Mr. Tyrrell’s community has been operating the orchard since 1858, which was a huge blow.  ,
” The industry has suffered a lot of damage.” About a fourth of American wine was exported to China. It was the most beautiful industry. All was riding the dragon”, said the managing director of Tyrrell’s Wines.
Australia is currently experiencing a glut of wine, with vehicles and containers holding up the equivalent of 3 billion jars.  ,
Even though most grapes have discovered new markets, it will take time to change that much investment. The majority of these businesses are much smaller than China.
” In the last 12 months, we’ve opened six new businesses. However, the six of those businesses put up are not as big as China”, Mr Tyrrell told CNA.
The tariffs were ended by China in late March, giving American wine producers a long-awaited relief after three years of punishing taxes.
While the shift has been great news for the country’s grapes, concerns remain on the future of business ties between the two nations.  ,