Mexican Media Brands
China Considers Lowering Tariffs on U.S. Cars
China’s central government is considering a proposal to lower its 40% tariff on vehicles from the U.S. to 15%, sources tell Bloomberg News.
#economics
Share
China’s central government is considering a proposal to lower its 40% tariff on vehicles from the U.S. to 15%, sources tell Bloomberg News.
China cut its 25% tariff on all imported cars to 15% in July. But it quickly raised the tax to 40% for U.S. vehicles in response to a 27.5% tax imposed by the Trump administration on cars from China.
The U.S. currently applies a 2.5% import tax on cars and 25% on light trucks from most countries other than China.
President Donald Trump describes China’s possible action as a concession he won when he and China President Xi Jinping agreed last week to a brief truce in their trade war. The pact suspended Trump’s threat to boost tariffs beyond the current 10%-25% on $200 billion worth of Chinese goods after this month.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
GM, Ford Evaluate Possible Economic Slump
General Motors and Ford say they have bolstered their cash reserves in case the trade war between the U.S. and China triggers a global recession.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.