Twelve chemical items, including propylene and paraxylene, would no longer benefit from reduced tax rates under the Economic Cooperation Framework Agreement (ECFA), Customs Tariff Commission of the State Council said in a media release.
The ECFA, a pivotal economic agreement, was designed to lower commercial barriers across the Taiwan Strait.
The commission's statement highlighted that the suspension is a direct response to Taiwan's unilateral and discriminatory trade practices, which reportedly contravene the terms of the ECFA. These practices include bans and restrictions on products from the Chinese mainland, Chinese media reports said.
ALCHEMPro News Desk (KD)
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