China, Taiwan Establish Basic Agreement on Lower Tariffs

In a third round of talks to boost cross-strait ties, China and Taiwan established a basic agreement that would lower tariffs on dozens of goods, reports Bloomberg.


Bloomberg says that details have yet to be finalised but the two nations have basically agreed to lower tariffs on more than 200 items exported from China to Taiwan.


China and Taiwan agreed last November to ease access to each other’s banking, securities and insurance industries, notes Bloomberg. And in December, the two nations agreed to strengthen cooperation in fishing, agriculture and industrial goods.


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