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China has been lifting trade barriers on other Australian goods as relations improve, and data shows winemakers sent almost 2.5 million litres of wine worth US$65.5 million to Hong Kong in December.
The crippling tariffs that China's government imposed on Australian wine exports almost three years ago could be lifted shortly, Australia's trade minister Don Farrell said on Sunday. China started reviewing the sanctions in late November and that process was "well and truly underway," Farrell said in an interview with Sky News.
Agriculture Minister Murray Watt has revealed Australia has "the right to resume" World Trade Organisation actions against China should it fail to deliver on promises to lift sanctions on Australian exports.
Reserve Bank Assistant Governor Brad Jones has warned there is "no historical precedent" to guide the RBA's response to present "shocks," as Australia looks set to face more volatility in interest rates.
Shadow home affairs minister James Paterson has slammed Prime Minister Anthony Albanese for evading "scrutiny and accountability" over the lease on the Port of Darwin.