4 Jul 18

China slashes tariffs on imported vehicles

Effective 1 July, China lowers tariffs on imported light vehicles from 25% to 15%. This measure had been announced by the Chinese Finance ministry at the end of May.

Vehicle imports from the United States may go up again if US President Trump goes ahead with his plans to levy a 25% tariff on a series of Chinese imports. In retaliation, the authorities in Beijing have announced that they will introduce tariffs for an identical value on US imports, including light vehicles. Importers of US-made vehicles could be forced to pay a 40% import tariff by 6 July.

Image: Volkswagen dealership in China

Authored by: Benjamin Uyttebroeck