. Military Space News .
CAR TECH
China to cut auto tariffs on July 1 as trade tensions ease
By Ryan MCMORROW
Beijing (AFP) May 22, 2018

China announced Tuesday that it would cut tariffs on auto imports from July 1, the latest sign of a thaw in trade frictions with the United States.

Beijing has announced a flurry of liberalisations and reforms since coming under fire from the Trump administration and some European politicians for its protectionist policies.

The planned reduction in import duties from 25 percent to 15 percent is a boon for international carmakers keen to grow sales in the world's largest auto market but may fall short of fulfilling US President Donald Trump's expectations that Beijing match US tariffs of 2.5 percent.

Demands reportedly put to Beijing by Washington at the start of trade talks called on China to lower all tariffs to at least match those of the US.

Trump has been following the issue closely and on Monday tweeted: "On China, Barriers and Tariffs to come down for first time."

The announcement in Beijing came days after Vice Premier Liu He and US Treasury Secretary Steve Mnuchin led negotiations in Washington which ended with an agreement to pull back from the brink of a trade war.

The two sides agreed to refrain from imposing tariffs threatened on billions of dollars' worth of goods that would have dented US-China trade.

But even as Trump has talked up the agreement, writing on Twitter that China "will purchase from our Great American Farmers practically as much as our Farmers can produce," other members of his administration have split on the detente and said tariffs were still on the table.

"Real structural change is necessary," US Trade Representative Robert Lighthizer said of China's economy in a widely cited statement released Sunday.

"Nothing less than the future of tens of millions of American jobs is at stake."

- German carmakers happy -

In Beijing China's foreign ministry spokesman Lu Kang said Tuesday the US would send a high-level delegation to China to hold "detailed conversations" at an unspecified date.

In addition, Foreign Minister Wang Yi plans to travel to Washington on Wednesday to "exchange views on bilateral relations and issues of common interest".

President Xi Jinping announced in April that China would "considerably lower" tariffs on cars by the end of the year as part of a range of measures seen as an olive branch to Trump.

The cut to 15 percent will be welcomed by automakers selling cars in China, with Toyota importing its Lexus brand and American giant Ford shipping in Lincolns.

German luxury automakers are expected to be among those benefitting the most, and shares in BMW and Daimler, owner of Mercedes-Benz, both jumped on the news, while Volkswagen subsidiary Porsche said the cut showcased China's "open market".

Berlin also welcomed the move.

"We welcome this announcement, it's a good idea," a German government official said, adding that it would be "a positive" for German carmakers, which according to industry estimates export some 500,000 vehicles to China each year.

In a tweet to Trump earlier this year, Tesla CEO Elon Musk spoke out against the high tariffs and barriers to selling his electric sedans and SUVs in China, calling it "like competing in an Olympic race wearing lead shoes".

China's announcement also included a lowering of import duties on many types of auto parts.

Earlier this year China announced plans to liberalise foreign ownership limits which had forced most foreign carmakers into joint ventures with state-owned companies.

China currently restricts foreign auto firms to a maximum 50 percent ownership of such joint ventures.

The changes will scrap shareholding limits for new-energy vehicle firms as soon as this year, followed by commercial vehicles in 2020 and passenger cars in 2022.


Related Links
Car Technology at SpaceMart.com


Thanks for being here;
We need your help. The Space Media Network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceMediaNetwork Contributor
$5 Billed Once


credit card or paypal
SpaceMediaNetwork Monthly Supporter
$5 Billed Monthly


paypal only


CAR TECH
Dealerships trash talk electric cars: study
Paris (AFP) May 21, 2018
Car dealerships in Nordic countries actively discourage consumers from buying electric vehicles, researchers who conducted an undercover investigation said Monday. Their findings, published in the peer-reviewed Nature Energy, reveal an overlooked barrier to the sale of electric vehicles, which are expected to play a key role in lowering CO2 emissions and curbing global warming. Posing as prospective buyers, the researchers made 126 enquiries at 82 dealerships in Denmark, Norway, Sweden, Iceland ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

CAR TECH
Missile Defense Agency contracts for Aegis 6.0 modeling support

Army taps Lockheed for ballistic radar system support

Saudi says intercepts missile fired from Yemen

Israel missiles hit Syria military bases: state media

CAR TECH
Navy taps Raytheon for RAM missiles for foreign military sales

Israeli army says has hit 'dozens' of Iranian military targets in Syria

Iran's ballistic missiles: bone of contention with West

BrahMos Supersonic Cruise Missiles to Feature Indian Quad Launchers

CAR TECH
Autonomous glider can fly like an albatross, cruise like a sailboat

MIT researchers develop virtual-reality testing ground for drones

The first wireless flying robotic insect takes off

Visual homing for micro aerial vehicles using scene familiarity

CAR TECH
IAP Worldwide Services tapped for satellite systems

Hughes to prototype Multi-Modem Adaptor for Wideband SATCOM use

Navy awards contract to ViaSat for aircraft communication systems

Silent Sentry: Protecting Space Communications

CAR TECH
BAE Systems tapped for HERCULES recovery vehicles

Marine Corps contracts for enhanced combat helmets

General Dynamics to provide display optoelectronics for U.S. Army

ContiTech to provide Saudi Arabia, Kuwait with Abrams tank parts

CAR TECH
BAE welcomes Australian economic plan for defense industry

US to update Saudi artillery for $1.31 billion

74% of French people against weapons sales to Saudi: poll

Mattis wins big with budget victory

CAR TECH
Turkey detains 150 soldiers over alleged coup links: report

Chinese tourists spark ire in Vietnam with controversial shirts

Clinton warns Australia on Chinese 'influence peddling'

Lithuania wants to jail ex-Soviet defence minister over crackdown

CAR TECH
Porous materials make it possible to have nanotechnology under control

A new Bose-Einstein condensate created at Aalto University

Course set to overcome mismatch between lab-designed nanomaterials and nature's complexity

This 2-D nanosheet expands like a Grow Monster









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.