The Chinese Finance Ministry announced the freezing of additional tariffs on the US cars’ imports, CNBC reported.
The ministry hoped to speed up negotiations with the US on cancelling all additional tariffs.
According to ministry’s press service, the 25 and 5% tariffs will be suspended for 116 and 67 commodity items, respectively. Thus, cars import tariffs will temporarily decrease from the current 40% to 15%.
Earlier today, Bloomberg reported the White House officially decided to postpone the increase in tariffs on the Chinese goods imports until March 1.