China Terminated Tariff Concessions with Taiwan for Propylene, Xylene and Other Products

On December 21, the Customs Tariff Commission of The State Council issued an announcement, in accordance with the "Cross-Straits Economic Cooperation Framework Agreement", decided to suspend the "Cross-Straits Economic Cooperation Framework Agreement" tariff concessions for some products, starting from January 1, 2024, propylene, paraxylene and other 12 tariff items imported from Taiwan. Suspension of the application of the agreed tax rates of the Economic Cooperation Framework Agreement between the two Sides of the Taiwan Straits shall be implemented in accordance with the current relevant provisions.

The Taiwan region has unilaterally adopted discriminatory prohibitions and restrictions on the export of products from the mainland, which violates the provisions of the Economic Cooperation Framework Agreement across the Taiwan Straits. It is hoped that the Taiwan region will take effective measures to remove trade restrictions on the mainland.

Suspension of the list of products with tariff concessions under the "Cross-Strait Economic Cooperation Framework Agreement"