15 December 2018 12:00 am
Beijing (dpa), Dec 14, 2018 - China says it will suspend additional tariffs targeting US cars for three months starting January 1 in a sign of easing trade tensions between the world’s two largest economies.
Earlier this year, China imposed extra tariffs of 25 per cent on US cars, as retaliation for the US slapping tariffs on a variety of Chinese goods, including semiconductor chips and machinery parts.
“Suspension of tariffs is a concrete measure to implement the consensus of the two heads of state,” the Chinese Commerce Ministry said in a statement on Friday, referring to discussion between US President Donald Trump and Chinese President Xi Jinping earlier this month.
The ministry expressed hopes that trade talks will continue “in the direction of eliminating all tariff increases.”
This year, the US imposed tariffs on 250 billion dollars’ worth of Chinese goods as punishment for what it says are China’s unfair trade practices, such as intellectual property theft and forced technology transfers.