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Friday, February 23, 2024

China may suspend tariff concessions on more Taiwanese goods

China’s Ministry of Commerce announced it is considering suspending tariff concessions on several products imported from Taiwan.

This step was taken in response to unilateral trade restrictions and political maneuvers taken by Taiwan that were considered detrimental by the Chinese government.

Imports that may be affected include textiles, agricultural products, fisheries, machinery, and car parts, which enjoy preferential tariffs through the Economic Cooperation Framework Agreement (ECFA).

According to the Ministry, Taiwan has not taken any effective measures to remove trade restrictions on goods imported from China, which came into effect from January 1, 2024.

Relevant departments from China are studying further measures in accordance with relevant provision of the Economic Cooperation Framework Agreement (ECFA) and related policies and regulations.

Earlier in December, China had announced that preferential tariffs on several chemical products, including propylene from Taiwan, would be scrapped.

This decision was taken as Taiwan was found to have violated ECFA rules with its discriminatory restrictions on China’s exports.

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