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China Grants Zero-tariff To All Imports From Nigeria, 52 others

LEADERSHIP News by LEADERSHIP News
1 year ago
in Business
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China has announced plans to eradicate tariffs on all imports from African countries with which it maintains diplomatic relations, in a major shift in trade policy, expected to deepen economic cooperation as it positions itself as a key trade and investment partner with the continent.

While this offer covers Nigeria and 52 other African countries, it excludes Eswatini, the only African nation recognising Taiwan’s sovereignty.

The announcement was made in a joint statement issued after a high-level meeting between Chinese Foreign Minister Wang Yi and African officials in the city of Changsha, Hunan province.

The move significantly expands an earlier policy that granted zero-tariff treatment only to the least-developed nations on the continent.

Chinese President Xi Jinping announced in a letter addressed to African foreign ministers, stating that all 53 African countries with formal ties to Beijing will now receive “zero-tariff treatment for 100 per cent of tariff lines.”

The policy expansion builds on earlier commitments made at a China-Africa summit in September, where 33 least-developed African countries were previously granted duty-free access to the Chinese market.

The results are already being felt as Chinese exports to Africa surged 12.4% in the first five months of the year, reaching a record 963 billion yuan ($134 billion), according to China’s Foreign Ministry.

The offer comes amid growing trade tensions between African nations and the United States.

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The joint China-Africa statement called on countries, especially the US, to “return to the right track” of resolving trade disputes through dialogue based on mutual respect.

The call follows President Trump’s recent protectionist move, which slapped steep new levies on several African countries.

 

These included tariffs of up to 50 per cent on imports from Lesotho, 47 per cent from Madagascar, 40 per cent from Mauritius, 38 per cent from Botswana, and 31 per cent from South Africa, the continent’s most industrialised country and largest exporter to the U.S.

 

Over 30 African countries risk losing duty-free privileges under the U.S. African Growth and Opportunity Act (AGOA), a key trade agreement that has come under scrutiny in recent years.

 

President Donald Trump had signaled intentions to apply reciprocal tariffs on all of America’s trading partners, casting uncertainty over the future of AGOA and similar preferential programs.

 

Meanwhile, Beijing’s new offer positions China as a more stable and predictable trade partner at a time when the global trade environment is increasingly polarised.

 

 

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