China suspends tariff advantages for 134 Taiwanese products│TVBS新聞網

TAIPEI (TVBS News) — China announced on Friday (May 31) that it will suspend preferential tariffs granted under the Economic Cooperation Framework Agreement (ECFA) on 134 imported products originating in Taiwan starting June 15.

This decision represents a significant difference from December 2023, when only 12 tax items were targeted, indicating a deepening gap in economic relations between the two sides of the Taiwan Strait.

The Chinese Ministry of Finance’s suspension of ECFA tariffs was a response to Taiwan’s discriminatory trade restrictions on over 2,500 mainland products and violated ECFA regulations, said Chinese Taiwan Affairs Office (TAO) spokesman Chen Binhua.

Chen said the move was a direct result of Taiwan’s refusal to lift its trade restrictions with the mainland and its actions that undermine cross-strait economic and trade cooperation.

He stressed that the ECFA, signed on the basis of the “1992 Consensus”, had been compromised by Taiwan’s independence stance, which undermined the basis for cross-strait negotiations and the implementation of the agreement.

The TAO spokesman warned that sticking to an independence agenda would not only endanger peace and development, but would also cause serious damage to the interests of Taiwanese companies and the public.

This development indicates a further deterioration in relations between both sides of the Taiwan Strait and has significant implications for the economic and political landscape in the region.

As tensions continue to escalate, the impact on Taiwanese businesses and the wider economy remains a matter of great concern, underscoring the need for a cautious approach in dealing with the complex dynamics across the Taiwan Strait.

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