China Halts Tariff Cuts on 134 Taiwanese Imports
China's Ministry of Finance announced it will reinstate tariffs on 134 items imported from Taiwan starting June 15. This decision follows Taiwan's alleged failure to reciprocate tariff concessions under the Cross-Strait Economic Cooperation Framework Agreement (ECFA), signed in 2010. The ministry cited Taiwan's adoption of discriminatory measures, including restrictions on the export of mainland products, as a violation of the agreement's provisions aimed at reducing or abolishing tariffs.
The reinstated tariffs will affect various products imported from Taiwan, including base oils. The move is seen as part of an ongoing dispute between China and Taiwan over trade practices and economic policies. China views Taiwan as its territory, while Taiwan maintains its own government and trade policies.
