The authorities of China announced a reduction in tariffs below the rates applied to the most favored nations on a total of 1,010 products starting next January 1, reports the state television network CGTN.
Among the goods mentioned, the aforementioned media highlights some such as lithium chloride or gas diffusion layers for fuel cells, whose tariffs will be provisionally reduced to “accelerate innovation and the development of advanced manufacturing.”
In addition, China will remove tariffs on some medicines and the raw materials with which they are made.
Other goods whose rates of import seeds of sweet corn, cilantro or burdock will be reduced, and tariffs on export of high purity aluminum “to promote the development of the new materials industry.”
These modifications are part of a new list announced this Thursday by the customs tariff commission of the State Council (Chinese Executive) whose most important novelty was the withdrawal of preferential tariffs on a dozen chemical products from Taiwan, including propylene and paraxylene.
That decision was made in retaliation for the “discriminatory trade restrictions” adopted by Taipei, which, according to Beijingrepresent a violation of the Economic Cooperation Framework Agreement (ECFA) signed by China and Taiwan in 2010.
Source: Gestion
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