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Updated December 21st, 2023 at 15:14 IST

Taiwan accuses China of economic coercion after tariff cut removals

Taiwan's presidential and parliamentary elections are taking place on January 13

Reported by: Business Desk
Taiwan
Taiwan | Image:AP
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Taiwan on Thursday accused China of "typical economic coercion" after Beijing announced the end of tariff cuts on some chemical imports from the island, saying Taipei violated a trade agreement just ahead of Taiwanese elections next month.

Taiwan's presidential and parliamentary elections are taking place on January 13 as China, which views the island as its own territory, aims to force Taiwan to accept Chinese sovereignty claims.

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Taiwan's government and the ruling Democratic Progressive Party (DPP) have repeatedly said China is trying to interfere in the vote, whether by military means or co-opting Taiwanese politicians, to ensure an outcome favourable to Beijing.

China's Finance Ministry said that starting January 1, tariff cuts will be suspended for 12 products, including acrylic and p-xylene, citing "discriminatory prohibitions and restrictions" Taiwan imposed on Chinese exports in violation of a 2010 trade deal.

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"It is hoped that Taiwan will take effective measures to lift trade restrictions on the mainland," it said.

China last week said it had determined that Taiwan had put up trade barriers in contravention of both World Trade Organization (WTO) rules and the 2010 trade deal.

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Taiwan's Office of Trade Negotiations, in a statement after a weekly Cabinet meeting on Thursday, said China was carrying out "typical economic coercion" and that it should stop its "one-sided political manipulation" and have talks under the World Trade Organisation, of which both are members.

(With Reuters inputs)

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Published December 21st, 2023 at 15:14 IST

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