Zam-Zam
Senator
Seems like a good thing, no?
China Makes Massive Cut to Car Tariffs After Truce With Trump
The Finance Ministry said Tuesday the levy will be lowered effective July 1 from the current 25 percent that has been in place for more than a decade, boosting shares of automakers from India to Europe. Bloomberg News reported last month that China was weighing proposals to reduce the car import levy to 10 percent or 15 percent.
A reduction in the import duty follows a truce between President Donald Trump’s administration and Chinese officials as they seek to defuse tensions and avert an all-out trade war. While the levy reduction could be claimed in some quarters as a concession to Trump and will be a boon to U.S. carmakers such as Tesla Inc. and Ford Motor Co., the move will also end up benefiting European and Asian manufacturers from Daimler AG to Toyota Motor Corp.
“This is, without a doubt, positive news,” said Juergen Pieper, Frankfurt-based head of automobiles research at Bankhaus Metzler. “You can’t completely disregard the fact that there are certain imbalances in China’s favor. This could be a signal that if one side is making concessions, it could lead to the Americans easing some of their pressure as well.”
https://www.bloomberg.com/news/arti...to-cut-car-import-duty-in-boost-for-lexus-bmw
I'll stand by for those desperately searching for the dark cloud accompanying the silver lining……:>)
China Makes Massive Cut to Car Tariffs After Truce With Trump
The Finance Ministry said Tuesday the levy will be lowered effective July 1 from the current 25 percent that has been in place for more than a decade, boosting shares of automakers from India to Europe. Bloomberg News reported last month that China was weighing proposals to reduce the car import levy to 10 percent or 15 percent.
A reduction in the import duty follows a truce between President Donald Trump’s administration and Chinese officials as they seek to defuse tensions and avert an all-out trade war. While the levy reduction could be claimed in some quarters as a concession to Trump and will be a boon to U.S. carmakers such as Tesla Inc. and Ford Motor Co., the move will also end up benefiting European and Asian manufacturers from Daimler AG to Toyota Motor Corp.
“This is, without a doubt, positive news,” said Juergen Pieper, Frankfurt-based head of automobiles research at Bankhaus Metzler. “You can’t completely disregard the fact that there are certain imbalances in China’s favor. This could be a signal that if one side is making concessions, it could lead to the Americans easing some of their pressure as well.”
https://www.bloomberg.com/news/arti...to-cut-car-import-duty-in-boost-for-lexus-bmw
I'll stand by for those desperately searching for the dark cloud accompanying the silver lining……:>)
