SYDNEY—Trade frictions between Australia and China have contributed to one global winemaker putting a cork in plans to spin off a luxury wine brand that is highly prized by collectors and can sell for thousands of dollars a bottle.
Treasury Wine Estates Ltd. on Thursday said it had frozen plans to list its Penfolds business separately, a day after the company said it had become aware that a Chinese industry association has asked Beijing to impose retrospective tariffs on Australian wine.
The…
