WASHINGTON (dpa-AFX) - China will cut the import tariffs it charges on cars to 15 percent, which will give a boost to foreign automakers in the world's largest market, especially for US automakers.
The Chinese Finance Ministry Tuesday said that it will cut import duties on passenger vehicles from 25% to 15%, starting July 1.
The announcement to lower import tariffs comes just days after China and the United States agreed to a ceasefire in their recent trade war.
Last month, US President Donald Trump had criticized China's import duties on cars, indicating that China charges far higher than the 2.5 percent tariffs on imported cars in the United States.
China imported 280,208 vehicles, or 10 percent of total imported automobiles, from the U.S. last year, according to China's Passenger Car Association, an industry trade body.
Copyright RTT News/dpa-AFX