China suspends tariff concessions on 134 items under trade agreement with Taiwan

HONG KONG (Reuters) – China’s Finance Ministry said on Friday it would suspend tariff concessions on 134 goods granted under a trade agreement with Taiwan, saying Taipei had not taken “effective measures to lift trade restrictions with the mainland.”

The China-Taiwan Economic Cooperation Framework Agreement (ECFA) was first signed in 2010.

In December, China suspended its tariff concessions for

some products under the ECFA, but the Ministry of Finance stated that the island had no equivalent in this regard.

“The Taiwan region has unilaterally taken discriminatory measures such as banning and restricting the export of mainland products, which violates the provisions of the (agreement),” the finance ministry said.

The suspension of tariff concessions will take effect from June 15 and will apply to products imported from Taiwan, including base oils, the ministry said.

(Reporting by Farah Master and the Beijing newsroom; Editing by Jacqueline Wong and Tom Hogue)