In apparent retaliation for US House Speaker Nancy Pelosi’s visit to the autonomous island, China has banned some trade with Taiwan. The restrictions include a halt of some Taiwanese imports of fruits and fish as well as natural sand exports to the island.
According to the Taiwanese government, China is Taiwan’s greatest trading partner. Bilateral trade between the two countries totaled $273 billion last year, or 33 percent of the island’s overall trade with the rest of the world.
Experts are particularly worried about the potential effects of Taipei and Beijing’s deteriorating relations on Taiwan’s semiconductor industry when inflation all around the world is high.
The self-governing island is a world leader in the production of semiconductor chips, a necessary component for almost all contemporary gadgets, including vehicles, refrigerators, and mobile phones.
China’s Taiwan Affairs Office announced on Wednesday that it will stop importing chilled and frozen horse mackerel from Taiwan as well as grapefruit, lemons, and other citrus fruits.
Reasons claimed by Chinese customs officials were that the ban on citrus fruit imports was due to “pest control” and “excessive pesticide residues,” and that the ban on seafood imports was due to “Covid prevention.”
In the meantime, Taiwan’s imports of natural sand, a crucial ingredient in the manufacture of semiconductor chips, have been halted by China’s trade ministry. The expected ire of Chinese authorities has been aroused by Nancy Pelosi’s journey to Taiwan, according to experts from ING Group on Wednesday.
Taiwan officials responded by claiming that the impact of China’s sand export ban would be “limited” because as per him “less than one percent” of Taiwan’s overall demand is met by Chinese sand.
A number of Taiwanese products have previously been prohibited from entering China due to rising tensions. China prohibited the importation of pineapples from ROC last year, followed later in the year by select varieties of apples, under the pretext of “pest control.” Taiwanese grouper fish, a premium seafood item from Taiwan, was also prohibited earlier this year due to the discovery of some illegal narcotics.
Beijing’s new statements come after it issued severe warnings that it will take countermeasures in retaliation to Pelosi’s journey to Taiwan.
After Pelosi’s visit, the military of the nation announced that it was starting a number of “specific military operations to offset the situation.”
A representative for China’s Ministry of Foreign Affairs stated during a press conference on Wednesday that the USA and Taiwan Separatist forces will pay the price for their actions.
On being questioned about whether the most recent export ban was meant to punish Taiwan for Pelosi’s visit, she responded, “Please ask the relevant department in charge,” declining to explicitly address the question.
Pelosi’s visit coincides with a number of issues China is grappling with.
This fall’s 20th party conference of the Communist Party will see a change in the party’s top leadership. At the conference, President Xi Jinping is anticipated to make a historic bid for a third term in office.
Domestic unrest is rampant as the economy of the nation contracts at its slowest rate as a result of strict Covid lockdowns and a faltering real estate market. The rate of youth unemployment has reached an all-time high. Due to a national mortgage crisis and a number of rural bank scandals, social unrest is on the rise.
Also Read:https://www.globaltimes.cn/page/202208/1272120.shtml
