Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
Galbot Raises $362 Million in Fresh Funding, Eyes Hong Kong IPO
Chinese Tech Firms Dominate MWC Despite Mideast Travel Snags
Noetix Robotics Raises Nearly 1 Billion Yuan After Spring Festival Gala Skit
LATEST
Chinese Tech Firms Dominate MWC Despite Mideast Travel Snags
Galbot Raises $362 Million in Fresh Funding, Eyes Hong Kong IPO
Win in GoPro Dispute Keeps U.S. Market Mostly Open to Chinese Camera-Maker
Noetix Robotics Raises Nearly 1 Billion Yuan After Spring Festival Gala Skit
Geely-Backed Meizu Stops New Phone Development, Turns to AI and Auto Tech
In Profile: How Morris Chang Built TSMC Into a Chipmaking Colossus
Baidu Profit Plunges 42% as AI Push Erodes Core Ad Business
Robotics Startup X Square Secures Fresh Funding Amid Valuation Surge
Fatal Xiaomi EV Crash Raises Questions Over Door-Handle Safety
DJI Challenges U.S. Drone Ban in Federal Appeals Court
China’s AI² Robotics Raises Fresh Funds at Over 10 Billion Yuan Valuation
China’s Tech Giants Wage Lunar New Year Subsidy War to Win AI Users
ByteDance’s Doubao Dominates Spring Festival Gala With 1.9 Billion AI Interactions
At China’s Spring Festival Gala, Robotics Becomes Big Business
Pentagon Retracts Chinese Military Companies List Twice in Two Days
Alibaba Unveils Qwen3.5-Plus, Undercutting Gemini 3 Pro on Cost
Pentagon Blacklists Alibaba, Baidu and BYD Over Alleged Military Ties
ByteDance Unveils Doubao 2.0 AI Model to Tackle Complex Tasks
Hollywood Isn’t a Fan of ByteDance’s New AI Video Tool
China Plans to Make Liability Insurance Mandatory for Drones by 2027

By Fran Wang / Dec 14, 2018 06:54 PM / Economy

China announced Friday it will suspend punitive tariffs on U.S.-made cars and auto parts starting Jan. 1, another step by Beijing to implement agreements reached by presidents Donald Trump and Xi Jinping to call a truce to the bilateral trade war.

The government will halt the imposition of duties that affect 211 product lines, such as hybrid passenger vehicles, diesel-engine trucks, chassis and seat safety belts for three months, the Ministry of Finance said in a statement.

The suspension will see the taxes that China slaps on U.S. cars fall temporarily to 15% from the current 40%. In July, China lowered duties on imported vehicles to 15% from 25%, but later hiked the rate on autos from the U.S. to 40% in retaliation to Washington’s punitive tariffs on Chinese goods.

“Imposing additional tariffs on U.S.-made cars and auto parts was a forced move to counter U.S. trade protectionism,” the ministry said. “Suspending the taxes is a concrete step to implement the consensus reached by the two countries’ leaders.”

“We hope both sides will, in accordance with the consensus reached by the two leaders, match words with deeds to speed up the negotiations aimed at scrapping all additional tariffs on the basis of mutual respect and on an equal footing.”

See more of our trade war coverage here.


Share this article
Open WeChat and scan the QR code