Treasury Wine (ASX:TWE) share price crashes 11% lower on China tariff news

Published

5 years ago

November 27, 2020

The Treasury Wine Estates Ltd (ASX: TWE) share price crashed lower on Friday before being hurriedly placed into a trading halt.

The wine company’s shares were down 11% to $9.23 before being halted from trade.

This latest decline means the Treasury Wine share price is now down 43% since the start of the year.

Why is the Treasury Wine share price crashing lower today?

Investors were hitting the sell button in a panic today after the Chinese Ministry of Commerce made a major announcement.

According to the ABC, the Ministry has decided to place tariffs on all Australian wine imports from tomorrow.

This decision was made in response to the preliminary findings of an anti-dumping investigation into Australia’s wine exports. That…

Related Topics:fool.com.au

360 Capital Digital Infra taps three brokers for placement – The Australian Financial Review

Why Beach, Bravura, Flight Centre, & Treasury Wine shares are dropping lower – Motley Fool Australia

Alleged Croydon Park gunman Artemios Mintzas charged with 25 offences

Perth Royal Show attendance slumps to 10-year low

Suncorp Stadium upgrades to rival Sydney as seat capacity and infrastructure prioritised

An open letter to pro-Palestinian protesters