The Chinese government stops the special levies on imports of cars and car parts from the USA for three months. The import duty will 1. January at from 40 back to 15 percent, announced the Ministry of trade. The Ministry of Finance said the hope that the talks with the USA about an end to the special duties to be accelerated.
China is implementing the Agreement, the President met with Xi Jinping and his US counterpart, Donald Trump, during the G20 summit in Argentina. At a dinner, they agreed, for the time being-of new special duties and threatened to abandon it. The United States put China at the same time, a period of 90 days, to trade barriers. The two governments had assured each other, in addition to free cars, first of all, agricultural products and Goods in the area of energy of the specific duties.
A spokesman for the Ministry of Commerce said China will begin with the implementation of certain points, in which there is a consensus, “the faster, the better”. He also announced that they will perform within the agreed 90 days for more talks. It should also ask to other party to the dispute, such as the protection of intellectual property, or technology transfer. Goal is the abolition of all customs duties.
approaching in the months-long Trade dispute
The two largest economies in the world had supplied for months, a trade conflict and mutual high duties on imports are collected. The US government had decided in September to impose tariffs on Chinese Goods in a volume of 200 billion dollars (170,2 billion Euro), in addition to the already introduced levies on Goods from the people’s Republic of to the value of $ 50 billion. Together, the half of all US imports from China is affected. The US duties will be to date, 10 percent, from 1. January 2019 to 25 per cent should be levied. China responded with counter-measures.
Recently had moved closer to the two governments. China pledged to increase its imports from the United States, the trade imbalances and leads back to soy from the USA. In the past 24 hours Chinese import would have ordered your of between 1.5 and 2 million tons of soy, informed the Association of the American Soybean exporters. The delivery by ship was expected in the first quarter of 2019. US President Trump, in turn, had offered for in Canada held Huawei chief financial officer, if the positive impact on the Trade dispute.