China and Taiwan signed a landmark trade agreement Tuesday that will greatly lower tariffs on Taiwanese bicycles and bicycle parts imported into China.

China now collects a 17% tariff on bicycles and bicycle parts imported from Taiwan. Under the Economic and Co-operation Framework Agreement, that tariff would be eliminated over three years.

In an interview with the Financial Times, the CFO for Giant Manufacturing, the world’s largest bike maker, said the deal would enable it to export more carbon fiber bikes to the mainland. Giant currently makes it high end bikes in Taiwan and uses factories in China for more moderately priced aluminum and steel framed bikes.