China to grant zero-tariff treatment on imports for 16 developed countries

China is reportedly set to grant zero-tariff treatment on 98 per cent of its taxable items to a minimum of 16 developed countries, as reported on Thursday, August 4.

China’s latest zero-tariff treatment will affect Togo, Eritrea, Kiribati, Djibouti, Guinea, Cambodia and Laos, among other countries according to China’s Customs Tariffs Commission.

The list also includes Cambodia and Bangladesh, as well as Laos and Nepal, two countries China borders.

The order, signed July 22, stresses that the “zero tariff” status covers 8,786 types of imported products.

Chinese state-affiliated media confirmed the news in a tweet.

#China to grant zero-tariff treatment to 16 least-developed countries https://t.co/HbiqeOMNuG pic.twitter.com/NAYw9LE2al

— CCTV+ (@CCTV_Plus) August 4, 2022

Credit: Twitter @CCTV_Plus

The news follows rising tensions after US Speaker Nancy Pelosi’s visit to Taiwan, that have led China to carry out their biggest ever live military exercises in close proximity to Taiwan, as reported on Thursday, August 4.

China’s biggest ever military exercises in Taiwan have caused many to speculate on a potential invasion with Chinese state-affiliated media reporting the use of hypersonic missiles.

In addition Taiwan’s ports and waterways, are currently blocked by China as a consequence to the US visit, with the People’s Liberation Army of China announcing several military exercises around Taiwan.

Taiwan’s Ministry of Defence has also commented on the situation stating:

“We seek no escalation, but we don’t stand down when it comes to our security and sovereignty.”

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