Trading in shares of Treasury Wine Estates was suspended on the Australian Securities Exchange soon after the duties were announced. Photo: Handout
China-Australia relations: Treasury Wine Estates takes hit from Chinese import duties as share price plummets
- The stock price of Treasury Wine Estates, known for the Penfolds brand, fell sharply on Friday, with trading suspended after China announced wine duties
- China’s Ministry of Commerce said the duties of up to 212.1 per cent are provisional when they are applied on Saturday and that final rates could be different
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China-Australia relations
Trading in shares of Treasury Wine Estates was suspended on the Australian Securities Exchange soon after the duties were announced. Photo: Handout