In a bold move to boost global trade, China has set zero tariffs for 43 least-developed countries (LDCs). Rolled out at the end of 2024, this initiative covers 33 LDCs in Africa, eight in Asia, and two in Oceania, aiming to create a ripple effect of economic uplift across continents.
After a period marked by high tariffs and trade tensions during the Trump administration, this policy aims to smooth out global trade friction. Although LDCs account for only about 2% of the global economy and 1% of international trade, they are home to around 900 million people — roughly 12% of the world’s population. This fresh approach is expected to open up new opportunities, drive economic momentum, and add a dynamic spark to international commerce. 🚀🌏
For young entrepreneurs, students, and global citizens, this strategic move by China signals a commitment to a more inclusive trade system, where even the smallest economies can play a significant role in the growth story of our interconnected world.
Reference(s):
China's zero tariff policy for LDCs benefits global economy growth
cgtn.com
