Australian Prime Minister Anthony Albanese says China has agreed to review high tariffs it imposed on Australian wine.

Albanese told reporters on Sunday that China will spend the next few months reviewing the tariffs of up to 218 percent.

Bilateral relations deteriorated as Australia filed complaints with the World Trade Organization over the tariffs levied by China on Australian wine and barley in 2020.

Albanese said his country is suspending action at the WTO. He noted that reopening the Chinese wine market would be worth more than one billion Australian dollars to exporters.

Meanwhile, a spokesperson of China's Commerce Ministry said the two countries have conducted friendly consultations and reached a consensus.

The spokesperson said the countries are each other's important trading partners, and that China is willing to work with Australia to jointly promote stable, healthy development of bilateral economic and trade relations through dialogue and consultation.

Albanese is scheduled to visit China from November 4 and meet Chinese President Xi Jinping.