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POLITICS & LAW

Update: Global Automakers Upbeat on China Tariff Cuts

Photo: VCG
Photo: VCG

* CITIC Securities the tariff cut will bring down prices of imported cars by 8% to 15%

* Tesla said it revised prices for all undelivered vehicles for Chinese buyers

Major European and American automakers will benefit from China’s plan to slash import tariffs on select autos and auto parts in the second half this year in a move to further open the world’s largest auto market.

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