Tariffs on 98% of products imported from 9 of Africa’s poorest countries have been eliminated by China.
What’s happening
The new tariff policy, which went into force on September 1, covers mineral and agricultural imports from Chad, the Central African Republic (CAR), Eritrea, Djibouti, Mozambique, Guinea, Rwanda, Togo, and Sudan.
The Chinese president declared that the goal was to boost continental imports to $300 billion (€302 billion) in the next three years, eventually reaching $300 billion per year by 2035.
Agriculture and food purchases to China from African countries managed to reach $161 billion in 2020, accounting for 2.6 % of all their imports
It follows Chinese President Xi Jinping’s declaration at the 2021 China-Africa summit that steps will be done to enhance agricultural imports from Africa.
What you should know
Africa, which continues to send raw materials to China, contributes only a minor fraction of China’s imports. Agriculture and food purchases to China from Africa reached US$161 billion in 2020, accounting for 2.6% of total Chinese imports.
What they are saying
According to experts, the policy will have little economic impact on the countries’ economies. China’s image, on the other hand, may improve.