Mexican Media Brands
China Will Drop Tariffs on U.S. Vehicles to 15%
China confirms reports that it will drop its import tariffs on American-made vehicles for three months, beginning Jan. 1.
#economics
Share
China confirms reports that it will drop its import tariffs on American-made vehicles for three months, beginning Jan. 1.
The move will return the country’s import tax to 15% from the current 40% on cars and light trucks shipped from the U.S. The additional 25% levy was imposed in July after the U.S. hiked its import duty on cars from China to 27.5% from 2.5%.
The gesture comes two weeks after Presidents Donald Trump and Xi Jinping agreed to a truce in the escalating trade war between the U.S. and China. The White House is expected to suspend its plan to impose tariffs on Jan. 1 that would affect an additional $200 billion in Chinese goods.
China’s tariff concession comes as its domestic car market heads for its first full-year decline in sales in nearly 30 years.
RELATED CONTENT
-
MTU Research to Boost Fuel Economy ~20%
Researchers are using V2X communications and other methods to provide vehicles with a significant increase in fuel economy.
-
Fuel Economy Gains in July
What you’re looking at here is a sales-weighted fuel economy chart (the numbers in the white boxes represent miles per gallon) that was put together by two diligent researchers, Michael Sivak and Brandon Schoettle, of the University of Michigan Transportation Research Institute.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.