China suspends tariff hikes on $126B of US cars, auto parts

[Eugene]

Source: Associated Press

By JOE McDONALD
an hour ago

BEIJING (AP) — China announced a 90-day suspension on Friday of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.

The suspension is China’s first step in response to President Donald Trump’s Dec. 1 agreement to suspend U.S. tariff hikes for a similar 90-day period while the two sides negotiate over American complaints about Beijing’s technology policy and trade surplus.

China has indicated it plans to move ahead with the talks despite strains over the arrest of a Chinese technology executive in Canada to face possible U.S. charges related to a violation of trade sanctions on Iran.

Beijing will suspend a 25 percent import charge on $66 billion of cars and trucks and a 5 percent charge on $60 billion of auto parts, effective Jan. 1, the Finance Ministry announced.

-snip-


Read more: https://apnews.com/87669a6f4b70486fb48c3f5134d18d72

[Iliyah]

1. A little to late, plus not too helpful for the

existing companies. I think that ship has sailed.

[cstanleytech]

2. At the rate the automakers are abandoning making them in the US due to Trumps tariffs it wont

matter to much soon anyway.