Suspension of tariff concessions on 134 products in Taiwan
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June 3, 2024, 11:32 AM According to the website of the Ministry of Finance, the Tariff Commission of the State Council recently issued an announcement, deciding to suspend tariff concessions (the second batch) of some products of the Cross-Strait Economic Cooperation Framework Agreement.
Taiwan has unilaterally adopted discriminatory prohibitions and restrictions on exports of mainland products, violating the provisions of the Cross-Strait Economic Cooperation Framework Agreement. On December 21, 2023, the Tariff Commission of the State Council issued the Tariff Commission Announcement No. 9 of 2023, suspending tariff concessions for some products of the Cross-Strait Economic Cooperation Framework Agreement. However, the Taiwan region has not yet taken any effective measures to cancel trade restrictions on the mainland.
According to the "Cross-Strait Economic Cooperation Framework Agreement", the Tariff Commission of the State Council issued an announcement deciding to further suspend tariff concessions for some products of the "Cross-Strait Economic Cooperation Framework Agreement". Starting from June 15, 2024, for imported products of 134 tax items such as base oils originating in Taiwan, the application of the agreed tax rates of the "Cross-Strait Economic Cooperation Framework Agreement" will be suspended and implemented in accordance with current relevant regulations. Source: Taiwan Strait Network