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19 November
Tuesday

World

China to suspend extra tariffs on US automobile and auto parts

Beijing and Washington try to stop a "trade war"

Photo: Bloomberg

/NOVOSTIVL/ China’s State Council said on Sunday that the country would continue to suspend additional tariffs on US vehicles and auto parts after April 1, in a goodwill gesture following a US decision to delay tariff hikes on Chinese imports. This article appeared in the Reuters.

In December, China said it would suspend additional 25 per cent tariffs on US-made vehicles and auto parts for three months, after a truce in a trade war between the world’s two largest economies.

The State Council, or cabinet, said Sunday’s move was aimed at “continuing to create a good atmosphere for the ongoing trade negotiations between both sides”.

US President Donald Trump said on Friday that trade talks with China were going very well, but cautioned that he would not accept anything less than a “great deal” after top US and Chinese trade officials wrapped up two days of negotiations in Beijing.

US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer were in the Chinese capital for the first face-to-face meetings between the two sides since Trump delayed a scheduled March 2 increase in tariffs on US$200 billion worth of Chinese goods.

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