Made-in-China Penfolds Wine Will Dodge Crippling Import Tariffs
- Treasury Wine says bottles to go on sale in China by year-end
- Punitive tariffs have sent Australia’s wine exports tumbling
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Treasury Wine Estates Ltd. will soon release a made-in-China version of its famous Penfolds brand, dodging punishing import tariffs that are crippling Australia’s wine exports.
The first bottles will go on sale in China for between A$30 ($21) and A$50 in the second half of 2022, Treasury said Wednesday. Experiments with grapes from Ningxia, in China’s central-north, and Shangri-la in the south-western province of Yunnan, have produced “promising characteristics,” it said.