Beijing — China pressed on with its trade-war truce with the US on Friday, announcing it will suspend extra tariffs added to US-made cars and automotive parts for three months from January 1. The move is another sign that the ceasefire has not been derailed by the recent arrest in Canada of a top Chinese telecom executive at the behest of the US. Beijing raised tariffs on American-made cars and parts this summer by 25 percentage points in retaliation for US tariffs on $50bn worth of Chinese goods. Halting the punitive duties brings the tariffs back down from 40% to the 15% imposed on all foreign vehicles. “Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state,” said the announcement by the State Council’s Tariff Commission Office, noting it applied to 211 product codes. US President Donald Trump and Chinese President Xi Jinping agreed on the sidelines of the G20 summit in Buenos Aires on December 1 to a 90-day truce while they t...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now