— CNBC: China revokes Taiwan tariff concessions, piles on pressure ahead of elections in the island
China suspended tax concessions on 12 chemical compound imports from Taiwan in retaliation for what Beijing deems to be a violation of a trade agreement, just weeks ahead of key elections in the democratically-run island.
“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,” China’s Finance Ministry said in a statement Thursday.
The Chinese Commerce Ministry last Friday accused Taiwan of violating World Trade Organization rules and the terms of a 2010 trade accord between both parties, extending its probe into Taiwan’s alleged restrictions on trade with the mainland to Jan. 12, just a day before the island’s presidential and parliamentary elections.
Link
China suspended tax concessions on 12 chemical compound imports from Taiwan in retaliation for what Beijing deems to be a violation of a trade agreement, just weeks ahead of key elections in the democratically-run island.
“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,” China’s Finance Ministry said in a statement Thursday.
The Chinese Commerce Ministry last Friday accused Taiwan of violating World Trade Organization rules and the terms of a 2010 trade accord between both parties, extending its probe into Taiwan’s alleged restrictions on trade with the mainland to Jan. 12, just a day before the island’s presidential and parliamentary elections.
Link