China temporarily rolls back tariff hikes on US cars and auto parts
For the three months starting January 1, cars imported from the US will no longer face an extra 25% in tariffs and the additional 5% tariffs on auto parts will also be scrapped. However, the original 15% tariffs on cars and 6% tariffs on auto parts will remain in place.
The easing of tariffs was seen as a move aimed at smoothing the US-China trade relations after both sides agreed on a temporary trade truce earlier this month. As part of the cease-fire, the US administration agreed to hold off a plan to raise tariffs on $200 billion worth of Chinese goods.
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