China terminates tariff concessions on propylene, xylene and other products with Taiwan

On December 21, the Tariff Commission of the State Council issued an announcement, in accordance with the “Cross-Strait Economic Cooperation Framework Agreement”, decided to suspend the tariff concessions for some products under the “Cross-Strait Economic Cooperation Framework Agreement” from January 2024. Starting from the 1st, the tax rates agreed in the “Cross-Strait Economic Cooperation Framework Agreement” will be suspended for imported products of 12 tax items originating in Taiwan, including propylene and paraxylene, and will be implemented in accordance with the current relevant regulations.

Taiwan has unilaterally adopted discriminatory bans, restrictions and other measures on the export of mainland products, violating the provisions of the Cross-Strait Economic Cooperation Framework Agreement. It is hoped that Taiwan will take effective measures to lift trade restrictions on the mainland.