China plans to further restrict favorable tariffs on Taiwan

<p>China plans to expand the suspension of favorable tariffs provided by a China-Taiwan trade agreement (Economic Cooperation Framework Agreement (ECFA)) signed in 2010</p><ul><li>China citing the result of Taiwan’s presidential elections according to a media report.</li><li>Some officials in China are pushing for ECFA to be terminated altogether. </li></ul><p>The Cross-Strait Economic Cooperation Framework Agreement provided economic benefits to Taiwan in an effort to draw it closer to China. </p><p>Just prior to Taiwan’s presidential election earlier this month, China suspended ECFA tariff relief on a range of petroleum products.</p>

This article was written by Eamonn Sheridan at www.forexlive.com.