Tax on American cars in China can be reduced to 15%

Tax on American cars in China can be reduced to 15%

December 11, 2018 0 By autotimesnews

Does this mean that the ice in the trade war of China and the United States has broken? While it is not clear. The initiative is under consideration, reports Bloomberg.

Earlier, Donald Trump announced an agreement with Chinese authorities about imported cars. Today it became known that within its framework the Chinese can reduce the import tax on cars supplied from the United States from the current 40% to 15%. At least, such a proposal was brought up for discussion by the City Council of the People’s Republic of China, which will be held soon.

In China, duties to 40% increased in July this year, after the United States lifted its tax. Now for the import of Chinese goods, it is 25.5%.

According to the American president, during the trade conflict between the West and the East, the foreign trade deficit in trade with China reached 500 billion dollars. Trump has repeatedly said that he does not like this state of affairs at all.

 To resolve the situation, on December 1 of this year, the President of the United States and the Chairman of the People’s Republic of China met at a summit in Argentina, where they agreed to conclude a new trade contract within 90 days. After the meeting, Trump, in his Twitter account, wrote about China‚Äôs readiness to first reduce and then completely eliminate the import tax on the import of American cars.

Meanwhile, the Chinese themselves are preparing a completely new youth electro-cross. Model Aiways U5 has a modern style and parameters comparable to the Hyundai Santa Fe.