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M. Continuo

Taiwan and China sign historic trade pact


    CHONGQING, China (Reuters) - China and Taiwan signed a historic deal on Tuesday to boost $100 billion in two-way trade after decades of hostility, easing political ties while putting the export-reliant island closer to its biggest market.

    The strongest tie-up between self-ruled Taiwan and China, which claims sovereignty over the island, will slash tariffs on about 800 items. It heavily favours Taiwan as economic powerhouse China seeks to offer sweeteners towards its goal of political unification.

    (Reporting by Lucy Hornby and Argin Chang; Editing by Jonathan Hopfner)