Forwarded from 📡Guardians of Hong Kong
#PreferentialTradeTreatment
32 countries cancelled China’s preferential trade treatment
China will no longer be eligible for Gereralised System of Preferences (#GSP) trade benefits from 27 EU nations, the United Kingdom, Canada, Turkey, Ukraine, and Liechtenstein as of December 1, leaving the country with only three options: Norway, New Zealand, and Australia.
On October 28, the General Administration of Customs of the Communist Party of China (#GACC) issued the “Announcement on No longer issuing GSP certificates of origin for goods exported to EU member states, the United Kingdom, Canada, Turkey, Ukraine, Liechtenstein and other countries.”
Although the GACC louds the action as "an acknowledgement by other advanced economies, economists have predicted that labor-intensive enterprises will face the brunt of the change.
#China #EU #TradeWar
Sources: Taiwan News, Epoch Times; #Nov2
https://www.taiwannews.com.tw/en/news/4333651
32 countries cancelled China’s preferential trade treatment
China will no longer be eligible for Gereralised System of Preferences (#GSP) trade benefits from 27 EU nations, the United Kingdom, Canada, Turkey, Ukraine, and Liechtenstein as of December 1, leaving the country with only three options: Norway, New Zealand, and Australia.
On October 28, the General Administration of Customs of the Communist Party of China (#GACC) issued the “Announcement on No longer issuing GSP certificates of origin for goods exported to EU member states, the United Kingdom, Canada, Turkey, Ukraine, Liechtenstein and other countries.”
Although the GACC louds the action as "an acknowledgement by other advanced economies, economists have predicted that labor-intensive enterprises will face the brunt of the change.
#China #EU #TradeWar
Sources: Taiwan News, Epoch Times; #Nov2
https://www.taiwannews.com.tw/en/news/4333651