500 tariff reductions under a landmark trade deal between China and Taiwan

14-Jun-10

500 Taiwanese items including petrochemicals, machinery, auto parts and textile products constitute the first batch of products (accounting for 15% of Taiwan's exports to China) to benefit from tariff reductions under a landmark trade deal between Taiwan and China. T his is the outcome of the third round of expert-level talks on the economic cooperation framework agreement (ECFA) and could result in a deal being signed by the end of June. The tariff reductions for petrochemical products could be about 60% and 80% for textiles.