China to cut vehicle tariffs on July 1 as trade tensions ease with US
BEIJING — China announced on Tuesday that it would cut tariffs on vehicle imports from July 1, the latest sign of a thaw in trade frictions with the US. Beijing has announced a flurry of liberalisations and reforms since coming under fire from the Trump administration and some European politicians for its protectionist policies. The planned reduction in import duties from 25% to 15% is a boon for international car makers keen to grow sales in the world’s largest vehicle market but may fall short of fulfilling US President Donald Trump’s expectations that Beijing match US tariffs of 2.5%. Demands reportedly put to Beijing by Washington at the start of trade talks called on China to lower all tariffs to at least match those of the US. Trump has been following the issue closely and on Monday tweeted: "On China, Barriers and Tariffs to come down for first time." The announcement in Beijing came days after Vice-Premier Liu He and US Treasury Secretary Steve Mnuchin led negotiations in Wa...
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