The International Trade Council is concerned about the recent trade restrictions imposed by China on Taiwan. In response to Nancy Pelosi's visit to Taiwan, Chinese commerce and customs authorities announced on Wednesday that they would halt exports of sand, imports of Taiwanese citrus fruit, and some types of fish.
The Council recognizes China's status as Taiwan's largest trade partner and highlights the impact these restrictions may have on Taiwan's economy. Construction, a crucial sector for economic growth, may suffer as a result of the halt on sand exports.
Furthermore, the International Trade Council is disappointed that China's General Administration of Customs has blacklisted over 100 Taiwanese food brands for failing to renew their export registration. These measures, coupled with China's ban on Taiwanese pineapples last year, suggest that China may be using trade as a weapon to put pressure on Taiwanese President Tsai Ing-wen.
The International Trade Council recognizes the importance of international trade and cooperation and encourages all countries to adhere to the rules of the World Trade Organization. The Council urges China to reverse its trade restrictions against Taiwan and work towards constructive dialogue and collaboration.
As an organization committed to promoting free and fair trade, the International Trade Council supports the US government's decision to allow Nancy Pelosi's visit to Taiwan. The Council reiterates its belief that countries should have the right to engage in diplomatic relations with each other without fear of retaliation or trade restrictions.
The International Trade Council remains committed to monitoring the situation and working towards a peaceful resolution that benefits both China and Taiwan.
