Mainland China and Taiwan have completed a third round of trade negotiations that could lead to lower tariffs on hundreds of products, trade officials said.
The list of items set for import tax reductions includes 200 products from mainland China and 500 from Taiwan, the China Daily reported Monday.
On the so-called "early harvest list," which outlines the agreements, Taiwanese textiles would have tariffs reduced 80 percent. Tariffs on
petrochemical products from Taiwan would would drop 60 percent.
Critics from the Democratic Progressive Party are concerned low-cost Chinese products would undermine the Taiwanese marketplace. But Tang Wei, director
of Hong Kong, Macao and Taiwan affairs in China's Ministry of Commerce said the accord would benefit Taiwan more than China and that the agreement was
"purely an economic issue."
The pact is also seen as a step toward normalizing relations with China and Taiwan, the newspaper said.
Trade between the China and Taiwan January through April reached $44.26 billion, the Ministry of Commerce said.