Marshall must establish emergency taskforce to deal with China trade crisis

Steven Marshall needs to establish an emergency taskforce to develop an urgent plan to support SA exporters as the China trade crisis escalated today.

China is now imposing tariffs of up to 212 per cent on Australian wine, effective from tomorrow.

The news has already prompted Treasury Wine Estates - owner of Penfolds Wines - to go into a sudden trading halt.

South Australia is more exposed than any other state to this tariff hike.

South Australia exports more than $700 million worth of wine to China each year, making up the majority of Australia’s $1.2 billion in wine exports to China.

South Australian goods and services exports are estimated to support more than 79,000 jobs in SA.

This comes amid news SA’s overall economy performed worse than any other state or territory over the past year, with Gross State Product shrinking by 1.4 per cent, putting SA at the bottom of the pack.

 

Quotes attributable to SA Labor Leader Peter Malinauskas

These tariff hikes are a significant blow to South Australia’s economy.

We export more wine to China than any other state and we are therefore more exposed than any other state.

We are calling on Steven Marshall and Trade Minister Stephen Patterson to establish a taskforce of industry leaders to address this escalating crisis.

 

Quotes attributable to Shadow Trade and Investment Minister Zoe Bettison

This is urgent. We need a plan. 79,000 jobs are at serious risk of being lost.

Since the state election, the Marshall Liberal Government has shown no economic leadership when it comes to exports. They have ripped up successful trade policies.

The Opposition is constructively putting forward the need for an emergency taskforce to support our wine industry and other key exporters.