China Suspends Tariffs On US Vehicles And Auto Parts

China suspends tariffs on US vehicles and auto parts

    Dec. 14 Ministry of Finance of the People's Republic of China has announced to suspend tariffs for 3 months on 211 items of U.S. made cars and auto parts from the United States. It means from Jan.1, tariffs on American-made cars and auto parts will fall from 40% to 15% for 3 months, returning to their level before Beijing and Washington began a tit-for-tat tariff war.

    This announcement was the first confirmation from Chinese side and was designed to maintain momentum in the negotiations in meeting Buenos Aires

    Announcement also pointed out that "We hope that 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 national tariffs on the basis of mutual respect and on an equal footing" the Finance Ministry said.

Above information quoted from https://www.washingtonpost.com

   This is a good signal that China and the United States are on the way to solve the trade war.

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