The suspension of the tariff concessions are due to take place from June 15 and would apply to products imported from Taiwan including base oils. — AFP picHONG KONG, May 31 — China’s Ministry of Finance said today it would suspend tariff concessions given to Taiwan on 134 items under a trade deal, saying Taipei had failed to take “effective measures to lift trade restrictions on the mainland”.
The Cross-Strait Economic Cooperation Framework Agreement between China and Taiwan was initially signed in 2010. China in December suspended tariff concessions for some products under the ECFA, but the finance ministry said the island has not reciprocated. “The Taiwan region has unilaterally adopted discriminatory measures such as prohibiting and restricting the export of mainland products, which violates the provisions of the ,” the finance ministry said.The suspension of the tariff concessions are due to take place from June 15 and would apply to products imported from Taiwan including base oils, the ministry said. — Reuters