China today lifted tariffs on Australian wine exports after a three-year trade dispute, which has sparked optimism for the revival of the billion-dollar industry. The Ministry of Commerce in Beijing announced the move, citing changes in the wine market conditions as the reason for discontinuing anti-dumping and countervailing duties on Australian wines. While the Australian government welcomed the decision and pledged to halt legal proceedings at the World Trade Organization, there's caution about a full return to the market, with expectations that some wine may seek other markets.