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China is removing auto tariffs on USA cars, underlining the progress of trade talksChina is removing auto tariffs on USA cars, underlining the progress of trade talks |
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Mainstream media reported that Chinese official has submitted a proposal to remove the 25 percent tariff on imported USA cars to the cabinet, bringing the levy down to 15 percent – the same level that other trading partners are paying.
This is an important step in reversing the tit-for-tat trade tension between the two countries, industry experts said, despite the unclear deadline on when the Chinese government would activate the mentioned pledges.
In 2017, China imported 266,000 vehicles from the USA, according to LMC Automotive, a market forecasting firm.
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