• Linkdin

Chinese mainland to halt preferential tariffs on Taiwanese chemicals

21 Dec '23
1 min read
Pic: Adobe Stock
Pic: Adobe Stock

Insights

  • From January 1, 2024, China will suspend preferential tariffs on select Taiwanese chemical products like propylene and paraxylene.
  • This response to Taiwan's alleged discriminatory trade practices, such as bans on mainland products, breaches the Economic Cooperation Framework Agreement, which aims to reduce trade barriers across the Taiwan Strait.
The Chinese mainland has announced the suspension of preferential tariffs on specific chemical products originating from Taiwan. This decision will be effective from January 1, 2024.

Twelve chemical items, including propylene and paraxylene, would no longer benefit from reduced tax rates under the Economic Cooperation Framework Agreement (ECFA), Customs Tariff Commission of the State Council said in a media release.

The ECFA, a pivotal economic agreement, was designed to lower commercial barriers across the Taiwan Strait.

The commission's statement highlighted that the suspension is a direct response to Taiwan's unilateral and discriminatory trade practices, which reportedly contravene the terms of the ECFA. These practices include bans and restrictions on products from the Chinese mainland, Chinese media reports said.

Fibre2Fashion News Desk (KD)

Leave your Comments

Esteemed Clients

Woolmark Services India Pvt. Ltd.
Weitmann & Konrad GmbH & Co. KG
VNU Exhibitions Asia
USTER
UBM China (Shanghai)
Tuyap Tum Fuarcilik Yapim A.S.
TÜYAP IHTISAS FUARLARI A.S.
Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
X
Advanced Search