According to Taiwan news, ECFA's follow-up goods trade negotiations will accelerate after the Lunar New Year, and the new round of list negotiations will begin as early as this month. Officials from Taiwan’s economic authorities said that in the new round of zero-tariff list, there were 5,824 items in Taiwan and 6,727 items in the mainland. The highly demanded projects in the industry are expected to be included, including Taiwan’s petrochemical industry. Five general-purpose plastics, four chemical fiber raw materials, etc.
Taiwan's current exports to the mainland, the largest amount, the largest amount and higher tariffs, including: hardware, plastic products, plastic materials, machine tools, molds, auto parts and so on. In the new round zero tariff list project, the industry hopes to include five general plastics, four chemical fiber raw materials, CNC numerical control machine tools, and cutting centers in follow-up negotiations. These products are expected to give priority to tax reduction in stages after the Lunar New Year. Among the above petrochemicals and related products, only polypropylene and polystyrene were listed in the ECFA early receipt list. Due to election factors, the progress of cross-strait ECFA follow-up consultations was affected in the past. After Ma Ying-jeou won the election again, the follow-up consultation will be accelerated, including four sub-agreements under the ECFA: goods trade, service trade, investment guarantee agreement, dispute settlement and so on. The tax reduction projects involved in the new round of trade negotiations between the two sides of the strait, as many as 5,824 in Taiwan and 6,727 in the mainland. Although the project is huge, it will be negotiated once and there will be no next tax reduction negotiations. Once an agreement is reached, the cross-strait economy will be further integrated.
According to reports, 95% of the ECFA's early receipt list has been reduced to zero tariffs. The two sides have conducted a new round of tax reduction negotiations through the trade group of goods under the Economic and Trade Commission. For the tax reduction list, the two sides initially drafted: the first category is that the tariff directly falls to zero; the second category is reduced to zero in stages; the third category is the phased tax reduction, but ultimately does not fall to zero. Under this framework, the two sides will further negotiate each other's open projects and scope.
It is also reported that at the Chinese Taiwanese businessmen’s Spring Festival networking event held on January 31st, Taiwan’s leader Ma Ying-jeou said that of the 539 items of ECFA’s early receipts, 509 and up to 94.5% of the products have been sold since this year. The mainland enjoys zero-tariff treatment, and all products received early next year are zero-tariff. It is not only industries such as petrochemicals and machine tools, but also traditional industries such as small household appliances and agricultural products. He said that the current ECFA follow-up negotiations are underway and should be accelerated to promote the signing of the ECFA follow-up agreement as soon as possible.
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Label: Zero Tariff ECFA Cross-Strait Economy Hardware Mould Tax Reduction
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