Taiwan China Agreement Will Cut Tariffs On 500 Kinds Of Clothing And Other Goods

According to the trade agreement with China, about 500 kinds of Taiwan petrochemical products, machinery, automobile parts and textile products will benefit from tariff reductions first.

The report quoted Wang Yi, head of China's Taiwan Affairs Office, speaking to the representative of Taiwan at the expert level talks on the third round of Economic Cooperation Framework Agreement (ECFA), saying that the agreement must be signed before the end of June.

It is reported that the tariff reductions for petrochemical products may be around 60%, and textile tariff reductions may be 80%.

All products on the initial tax cuts are known as the "early harvest list", which accounts for about 15% of Taiwan's exports to China.