Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Policies

    Tariff cuts will spur Asian trade

    By ZHONG NAN?and REN XIAOJIN | China Daily | Updated: 2018-06-27 04:50
    Share
    Share - WeChat

     

    [Photo/VCG]

    Countries in region work to ease impact of protectionist moves?

     

    China unveiled a plan to remove or reduce import tariffs on goods including soybeans and precision instruments from several Asian countries, a move experts said will further facilitate trade activities and better defend the multilateral trading system.

    A total of 8,549 types of goods originating in India, South Korea, Bangladesh, Laos and Sri Lanka will have tariffs reduced or cut to zero. The goods include chemicals, agricultural and medical products, clothing, steel and aluminum products under the second amendment of the Asia Pacific Trade Agreement, the Customs Tariff Commission of the State Council announced on Tuesday.

    The commission said all imported products on the list from the five Asian countries will have a new tariff rate effective on Sunday.

    The trade agreement, formerly known as the Bangkok Agreement, signed in 1975 and renamed in 2005, has been the oldest preferential trade agreement among economies in the Asia-Pacific region. Formed by six member countries, the trade agreement covers a population of 3 billion.

    The change was decided upon as unilateralism and trade protectionism are on the rise and tensions appear in the trade relations among global economies.

    China said on June 16 it would levy an additional 25 percent tariff on 659 goods worth $50 billion from the United States, including soybeans and automobiles, in response to Washington's plan to impose tariffs on $50 billion of Chinese shipments.

    Many countries oppose such behavior and have already taken measures to prevent their economies from being dragged into recession, said Tu Xinquan, director of the China Institute for WTO Studies at the University of International Business and Economics.

    "Countries are acutely aware that the US is not only having trade disputes with China. ... It appeared that the US is challenging the international trade system, as small economies are also under the threat of protective trade measures," he said.

    This can be an opportunity for China to restructure or diversify its import channels, said Zhou Qiangwu, director of the International Economics and Finance Institute at the Ministry of Finance.

    "The ongoing trade dispute may also force China to cast off its heavy dependence on service trade with the US and conduct more international collaboration in research and development with countries including Germany, France, Russia, South Korea and Japan," he said.

    Fu Zhenzhen, an agricultural analyst with Beijing-based CnAgri specializing in grain trade, said the zero tariff on the soybean imports from listed countries is not likely to play a huge role in China's soybean supply.

    Most of those five Asian countries are actually in short supply of soybeans, with South Korea even importing them from China, but "the amended trade deal will affect other sectors and help China build a better trading environment in the Asia-Pacific region", she said.

    "Countries such as Brazil, Argentina, Paraguay and Canada will have a greater chance to take over the market share from US soybean growers if the Sino-US trade dispute further escalates," said Ding Lixin, a researcher at the Chinese Academy of Agricultural Sciences in Beijing.

    Contact the writers at zhongnan@ chinadaily.com.cn

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    亚洲午夜福利精品无码 | 免费无码AV一区二区| 久久伊人亚洲AV无码网站| 亚洲高清有码中文字| 国产v亚洲v天堂无码网站| 日本成人中文字幕| 久久亚洲精品无码aⅴ大香| 中文字幕在线观看亚洲| 亚洲国产精品成人精品无码区在线 | 亚洲AV永久无码一区二区三区| 中文字幕无码毛片免费看| 无码福利写真片视频在线播放| 日韩久久久久久中文人妻| 亚洲成A人片在线观看无码不卡| 中文无码熟妇人妻AV在线| 国产精品无码a∨精品| 中文字幕久久精品| 中文字幕国产91| 国产99久久九九精品无码| 久久精品国产亚洲AV无码麻豆| 99精品人妻无码专区在线视频区| 亚洲日韩VA无码中文字幕 | 中文字幕亚洲综合久久菠萝蜜| 暖暖免费日本在线中文| 亚洲激情中文字幕| 日韩久久久久久中文人妻| 亚洲AV无码一区二区三区性色| 亚洲AV无码不卡在线观看下载| 国产精品无码久久久久| 亚洲精品无码mv在线观看网站| 欧美日韩中文字幕在线看| 最新中文字幕av无码专区| 波多野结AV衣东京热无码专区| 免费看无码特级毛片| 亚洲av无码av制服另类专区| 亚洲中文字幕无码专区| 中文日韩亚洲欧美字幕| JLZZJLZZ亚洲乱熟无码| 精品无码国产污污污免费网站 | 国产亚洲精久久久久久无码| 免费人妻无码不卡中文字幕系|