Taiwan cuts import taxes for Central, South American allies

Taiwan’s legislature has passed the third and final reading of an amendment that will remove import taxes for products from three close allies of Taiwan. The amendment will apply to 234 products from Belize, Honduras, and Paraguay. All three countries have full diplomatic relations with Taiwan. Among the products affected are seafood, cocoa products, and fruit juice from Belize; dairy products, fruits, and vegetables from Honduras; as well as confectionery items and rice paper from Paraguay. Belize is the biggest beneficiary of the amendment’s new rules, which will apply to 199 of its products. Cabinet officials say that the products covered under the amendment will not compete with Taiwan-made products, so there should be no negative economic impact. The amendment’s passage through the legislature comes shortly after Taiwan formally ratified an ...