China Reinstates Tariffs on Taiwan Imports Amid Trade Dispute

China will reinstate tariffs on 134 items imported from Taiwan next month, citing Taiwan's lack of reciprocation under the Cross-Strait Economic Cooperation Framework Agreement (ECFA). The suspension of tariff concessions will affect products including base oils. Taiwan's government has not commented on the move, which China attributes to discriminatory trade practices by Taiwan.


Reuters | Updated: 31-05-2024 08:12 IST | Created: 31-05-2024 08:12 IST
China Reinstates Tariffs on Taiwan Imports Amid Trade Dispute
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China will reinstate tariffs on 134 items it imports from Taiwan next month after the Ministry of Finance said it would suspend concessions given on the items under a trade deal because Taiwan had not reciprocated.

The Cross-Strait Economic Cooperation Framework Agreement (ECFA) between China and Taiwan was initially signed in 2010. China in December suspended tariff concessions for some products under the ECFA, but the finance ministry said the island has not reciprocated.

"The Taiwan region has unilaterally adopted discriminatory measures such as prohibiting and restricting the export of mainland products, which violates the provisions of the (agreement)," the finance ministry said. The suspension of the tariff concessions are due to take place from June 15 and would apply to products imported from Taiwan including base oils, the ministry said.

Taiwan's government did not immediately comment on the Chinese move. China views democratically governed Taiwan as its own territory, a position the government in Taipei rejects.

Chen Binhua, spokesperson for the Taiwan Affairs Office, said Taiwan had unilaterally adopted discriminatory trade restrictions on the export of more than 2,500 mainland products. This violated the ECFA's provisions on reducing or abolishing tariffs.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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