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2024-11-17 Update From: AutoBeta autobeta NAV: AutoBeta > Industry Report >
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AutoBeta(AutoBeta.net)03/31 Report--
According to the website of the Ministry of Finance, the tariff Commission of the State Council has decided to continue to suspend tariffs on cars and parts originating in the United States, which means that US-made cars are still imported into China at a tariff of 15%.
On December 14, 2018, the heads of state of China and the United States reached a consensus on economic and trade issues. China decided to suspend tariffs on cars and parts originating in the United States for three months starting from January 1, 2019. The announcement is about to expire and China has decided to extend its moratorium on tariffs.
Before this time, China countered US trade protectionism and decided to impose a 25% tariff on cars and parts originating in the United States, with a total tariff rate of 40%.
The following is the original announcement on the website of the Ministry of Finance:
The tariff Commission of the State Council on the issue of products of American origin
Announcement of continued suspension of tariffs on automobiles and parts
In order to implement the consensus reached by the heads of state of China and the United States in Argentina and continue to create a good atmosphere for Sino-US economic and trade consultations, in accordance with laws and regulations such as the Foreign Trade Law of the people's Republic of China and the Import and Export tariff regulations of the people's Republic of China, with the approval of the CPC Central Committee and the State Council, the tariff Commission of the State Council decided to continue to suspend tariffs on cars and spare parts originating in the United States from April 1, 2019. The deadline for suspending the imposition of tariffs will be notified separately.
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