China suspends 25% tariff increase on US vehicles and auto parts.

pexels-photo-808057.jpeg

Photo by Caio Amorim Maia on Pexels.com

According to the Associated Press this morning, China announced a 90-day suspension of increased tariffs on $126 billion of US cars, trucks and auto parts.

The suspension on Friday was likely a response to President Trump’s December 1st decision to suspend tariff hikes that were set to begin January 1st. These initial China tariffs of 25% were in response to Trump’s 25% tariff on $50 billion of Chinese goods.

The US and China are still working on a solution to solving the trade dispute but no face to face negotiations have been set. Check back for more details as they are available.

Leave a Reply

%d bloggers like this: