BEIJING, Dec 3 (Alliance News): China has launched a groundbreaking zero-tariff policy for all products imported from least developed countries (LDCs) that have diplomatic relations with it, including 33 African nations.
This makes China the first major developing country and significant economy globally to adopt such a comprehensive measure, reinforcing its role as a leader in South-South cooperation.
This policy shift follows China’s 2005 initiative, which provided zero-tariff treatment for 190 items from 25 African LDCs.
By extending this to all products, China is fostering economic growth and industrial cooperation, promoting modernization, and supporting the development of trade-led economies in the Global South.
Chinese internet users have praised the move, with some advocating for mutual preferential trade policies.
Taiwan’s commentator Tsai Zhengyuan noted that this unilateral zero-tariff initiative is unprecedented and could accelerate economic progress and job creation in these countries, aligning with trade-led development theories.
China’s commitment contrasts with recent US tariff increases under President Trump, highlighting a shift in global trade dynamics.
The zero-tariff approach aims not only to facilitate the export of raw materials like wheat and coffee but also to bolster the economies of LDCs by encouraging them to enhance product quality, improve industrial structures, and boost competitiveness.
This initiative seeks to create a fairer and more inclusive global economic system, ensuring that even the most economically vulnerable nations can partake in the benefits of globalization and sustainable development.
