According to regulations, once the economy of the beneficiary country reaches a certain level, the beneficiary country can cancel the GSP arrangement according to the actual situation. At present, China’s per capita income has exceeded the low-income and low-middle-income set by the World Bank. In addition, China has become the world's second largest economy, so some countries have cancelled their preferential tariff policies on us.
On the positive side, the cancellation of my country’s Generalized System of Preferences can be regarded as China’s economic development achievements, and "Made in China" has been recognized internationally, but on the negative side, we choose to cancel at this point in time. China's Generalized System of Preferences will not only reduce the competitiveness of some of our export companies, but can even be regarded as an extension of the Sino-US trade war. In this regard, my expert said that for a long time in the past, China’s exports have benefited from the support of low tariffs and can compete internationally with a strong price advantage. The strong inertia formed by this path dependence is not tolerable. What is overlooked is only because China has started a dual-cycle strategy, and ASEAN has become my country’s largest trading partner. Therefore, even if developed countries withdraw their tariff preferences, the negative impact is still under control. And effective.