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China Suspends U.S. Auto Tariffs

Stockhouse Editorial
0 Comments| December 14, 2018


Another move in the U.S. / China trade war cease-fire: Beijing has announced that it is suspending tariff hikes on $126 billion worth of U.S. auto parts, cars and trucks.

The Chinese Finance Agency explained that it will suspend a 25% import charge on $66 billion worth of cars and trucks, and a 5% charge on $60 billion worth of auto parts.

The suspension takes effect January 1st, 2019 for a period of 90 days.

Global financial markets have been tumultuous during this trade spat, wildly swinging from high to low as moves were made on both sides of the negotiating table.

This calm in the storm comes shortly after the arrest of Huawei’s CFO in Vancouver, B.C. related to U.S. charges accusing she violated trade sanctions on Iran.

China’s trading partners, especially the U.S., have complained that it has become a threat to technology and industrial operations around the world.




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