P.M. BRIEFING : Taiwan Tariff Cut on 1,900 Items
Tariffs will be reduced on 1,900 goods in a market-widening move designed to support Taiwan’s bid to join the General Agreement on Tariffs and Trade, the Finance Ministry said today.
A ministry section chief said the government is drafting a list of about 1,900 imported products, including passenger cars, automobile components, farm goods and precision instruments, that could have their import tariffs cut early next year.
“The purpose of our tariff cut is to encourage imports and liberalize our market,” the official said in a telephone interview. “It is also in line with our plans to join GATT.”
Taiwan had a trade surplus of $12 billion with the United States in 1989, although the figure is expected to drop below $10 billion this year, Taiwan trade officials said.
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