China recently announced the termination of tariff cuts on certain chemical imports from Taiwan, alleging that the island has violated a trade agreement. This move comes as China continues to apply pressure on Taipei in the lead-up to the upcoming presidential and parliamentary elections scheduled on January 13, 2022.
China has consistently regarded Taiwan as a part of its own territory and has been actively seeking to establish its sovereignty claims. The Taiwanese government and the ruling Democratic Progressive Party (DPP) have repeatedly raised concerns regarding China’s attempts to interfere in the electoral process. They claim that China is employing military intimidation tactics or co-opting Taiwanese politicians to manipulate the outcome in its favor.
As of January 1, 2022, China’s Finance Ministry has decided to suspend tariff cuts on 12 chemical products, including acrylic and p-xylene. This action is in response to what China deems as “discriminatory prohibitions and restrictions” imposed by Taiwan on Chinese exports, which allegedly violate a trade deal established in 2010.
Taiwan has called upon China to cease its “political operations” related to the trade probe and expressed its willingness to engage in discussions with Beijing to address the issue. The Taiwanese government emphasizes the importance of lifting trade restrictions imposed on mainland China to ensure fair and balanced trade between the two regions.
China has also accused Taiwan of erecting trade barriers that contravene both the rules set by the World Trade Organization (WTO) and the provisions of the 2010 trade agreement between the two countries. With these allegations, China intends to exert further pressure on Taiwan while justifying its decision to suspend tariff cuts.
China’s decision to end tariff cuts on chemical imports from Taiwan is the latest move in its ongoing efforts to assert control over the island. With the upcoming elections in Taiwan, the Chinese government’s actions are seen as an attempt to influence the outcome and ensure a result favorable to Beijing. The Taiwanese government, on the other hand, calls for dialogue and the mutual lifting of trade restrictions to foster fair and balanced trade relations between the two regions. As the political and economic tensions between China and Taiwan continue to escalate, the international community closely watches the developments and hopes for peaceful resolutions to maintain stability in the region.
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