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Report: China May Cut Import Tariff on Cars to 10%
China is considering proposals to lower its 25% import tax on foreign cars to 10% or 15%, sources tell Bloomberg News.
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China is considering proposals to lower its 25% import tax on foreign cars to 10% or 15%, sources tell Bloomberg News.
The central government could announce a decision in May, according to the news service. China President Xi Jinping pledged two weeks ago to “significantly” reduce the country’s tariff to help avoid a trade war with the U.S.
President Donald Trump, pointing to the tax gap between the two countries, announced in early April a plan to impose a 25% tariff on 1,300 products from China, including cars, beginning in June. China promptly responded with its own list of U.S. products
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