China looks set to cut tariffs on US cars from 40 per cent to 15 per cent, White House tells manufacturers
Report follows phone call between Chinese Vice-Premier Liu He, US trade representative Robert Lighthizer and US Treasury Secretary Steven Mnuchin
White House officials have told manufacturers that the Trump administration believes China will cut tariffs on US cars to 15 per cent from the current 40 per cent, a car executive said on Tuesday.
The executive said the United States had not received any formal documentation of China’s move, but The Wall Street Journal reported on Tuesday that Chinese Vice-Premier Liu He told US trade representative Robert Lighthizer and Treasury Secretary Steven Mnuchin that the mainland would cut car tariffs to 15 per cent.
China raised its tariffs on American cars and parts to 40 per cent earlier this year after the US increased its tariffs on Chinese vehicles and parts to 27.5 per cent.