China postpones tariffs on US cars


HONG KONG: China has announced to temporarily postpone a 25% hike on U.S. made cars and auto parts.

The announcement was made by the Finance Ministry in a statement on its website on Friday.

The suspension of tariff hikes will be for a period of 90 days. 

China’s move comes in response to the agreement with President Donald Trump in December for U.S. to also postpone tariff hikes while the two sides negotiate their trade policies.

China will hold back for now on a 25 percent import charge on cars and a 5 percent charge on auto parts.