China-Nicaragua Free Trade Agreement

The Free Trade Agreement between the People's Republic of China and the Republic of Nicaragua officially entered into force on January 1, 2024. 

China committed to the following preferential tariff treatment for goods imported from Nicaragua:

• Tariffs for Motor cars and other motor vehicles principally designed for the transport of persons will be gradually eliminated (from 15%) within the next 15 years. 
• Tariffs for Lithium hydroxide will be gradually eliminated (from 5%) within the next 15 years. 

Nicaragua committed to the following preferential tariff treatment for goods imported from china:

• Tariff exemption for Lithium oxide and hydroxide.
• Tariffs exemption for Heat pumps (other than air conditioning machines of heading 8415: zero-tariff for Compression-type refrigerating units whose condensers are heat exchangers) will be gradually eliminated (from 5%) within 15 years. 
• Tariffs for motor cars and other motor vehicles principally designed for the transport of persons will be gradually eliminated (from 10%) within 15 years. 

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