China Suspends Additional Tariffs On US-Made Vehicles For 3 Months

The Chinese Finance Ministry announced that they will suspend additional tariffs on US-made vehicles and car parts for three months, starting from January 1, 2019.

The move follows a truce in the trade war between USA and China, as the two countries are set to negotiate a new trade deal.

China will suspend its 25 percent tariff on 144 vehicle and car part items, as well as its 5 percent tariffs on a further 67 auto items between January 1 and March 31, Reuters reports. That means that US-made vehicles will be subjected to a 15 percent tariff instead of the previous 40 percent.

China’s Finance Ministry hopes that the two countries will speed up their negotiations in order to remove all of the additional tariffs on each other’s goods.

The tariff suspension was announced after China’s first major purchase of US soybeans since President Donald Trump and President Xi Jinping agreed to the truce, during talks on trade on December 1.

The truce between the two countries paused USA’s plan to increase tariffs on $200 billion worth of Chinese goods on January 1.

China’s move to lift the additional tariffs on US-made vehicles was announced earlier by White House economic advisor Larry Kudlow but at the time nothing was set on paper.

more photos...
GM’s eBike Brand Named ARĪV, Launches In Europe With Two Models

The Meld and Merge eBikes offer ranges of up to 64 km (40 miles) on a single charge.

Je Design Bumps Cupra Ateca To 355 HP For The Price Of A Supermini

The pack for the Cupra Ateca includes an extra 59 HP, sporty exterior upgrades and new wheels.

France Will Invest $790 Million In Battery Industry To Reduce Reliance On China

President Emmanuel Macron is wary of trade wars and wants the French industry to become independent .

Mercedes To Expand Plug-In Hybrid Range To 10 Models By End Of This Year

Models like the A-Class, the GLC, the GLE, and more will get a PHEV powertrain option within 2019.

Vicious Texas Drainage Holes Still Claim SUVs, Trucks And Amazon Vans

These holes have been a hazard for quite some time, but local authorities haven’t gotten around to fixing them.

Should Kahn Build A Pink Lamborghini Urus Or Go For Purple?

Kahn’s founder took to social media to ask whether they should go ahead with the pink Urus project.

Woman Who Can’t Get A Deal On New Car Gets Free Scion From A Total Stranger

The woman could believe this random act of kindness.

2019 Chevy Silverado Is The First-Ever Truck To Pace Daytona 500

Dale Earnhardt Jr. will lead the pack driving a bone-stock Silverado powered by a 420hp V8.

2020 Kia Soul EV Gets 243-Mile Range Rating From EPA

The 2020 Kia Soul EV beats most of its rivals, like the Nissan Leaf E+ and Chevy Bolt.

Would You Pay $55,000 For This Well-Kept 1991 BMW M5?

The car is finished in Brilliant Red and has a grey leather interior with the optional Executive Seating package.