China to suspend added tariffs on U.S.-made cars

by SpeedLux
high-emission vehicles being banned in beijing

China will temporarily suspend additional 25 percent tariffs on U.S.-made vehicles and auto parts starting Jan. 1, 2019, the finance ministry said on Friday, following a truce in a trade war between the world’s two largest economies.

The Ministry of Finance, in a statement on its website, also stated it hopes China and the United States can accelerate negotiations to eliminate all additional tariffs on each other’s goods as it decreases tariffs from 40 percent to the 15 percent level that was imposed before the current trade battle began. The suspension is going to remain for three months.

U.S. President Donald Trump welcomed the announcement.

“China just announced that their economy is growing much slower than anticipated because of our Trade War with them. They have just suspended U.S. Tariff Hikes,” Trump wrote in a tweet. “U.S. is doing very well. China wants to make a big and very comprehensive deal. It could happen, and rather soon!”

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More