China’s RCEP Tariff Concessions Still Guard Growth Sectors



Takako Gakuto | Nikkei Asia

TOKYO — China’s plans for phasing out tariffs under the Regional Comprehensive Economic Partnership have shed light on Beijing’s strategic thinking on nurturing industries, with electric-vehicle technologies positioned as a top priority that will enjoy long-term tariff protection.

Under the new massive trade deal signed on Sunday, China is set to scrap tariffs immediately on a large portion of items that are currently subject to a roughly 2% to 6% tariff, mostly in areas where China already is a competitive player.

But it secured a longer grace period on many items that are protected under steep tariffs, or that are expected to face intense global competition in coming years.

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