Wine is about to get more expensive in Canada
Wine enthusiasts across the country are set to see higher price tags on their favourite Canadian vintages due to a trade dispute with Australia.
The price of a 750-millilitre bottle could rise by about $0.50 after the government phases out a tax exemption for Canadian wine.
The increase is set to arrive within the next two years, according to a report by Business Vancouver.
The measure comes as part of the settlement of a trade dispute in which Australia alleged Canada holds various policies that discriminate against Australian wines and violate the General Agreement on Tariffs and Trade rules.
As part of the agreement, the federal government will repeal the federal excise duty exemption on wine by June 30, 2020.
In a news release, Minister of Small Business, Export Promotion and International Trade Mary Ng said the agreement reflects Canada’s commitment to the international trading system, “which is incredibly important for our businesses during these challenging times.”
Join the conversation Load comments