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China slashes auto tariffs to 15%; Tesla, BMW seen as beneficiaries

Import tariffs will be cut to 15 per cent from 25 per cent for most vehicles from July 1, adding that this was part of efforts to open up China's markets and

Reuters 

China will steeply cut import tariffs for automobiles and car parts, opening up greater access to the world’s largest auto market amid an easing of trade tensions with the United States. Import tariffs will be cut to 15 per cent from 25 per cent for most vehicles from July 1, the Ministry of Finance said on Tuesday, adding that this was part of efforts to open up China's markets and spur development of the local auto sector. A small number of imported trucks are taxed at 20 per cent currently. Import tariffs for auto parts would be cut to 6 per cent from mostly ...

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First Published: Tue, May 22 2018. 21:48 IST
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