China will cut the import duty on passenger cars to 15 per cent, further opening up a market that’s been a chief target of the U.S. in its trade fight with the world’s second-largest economy. It was reported last month that China was weighing proposals to reduce the car import levy to 10 per cent or 15 per cent. The reduced tarrifs will make little difference to U.S. automakers who already manufacture vehicles in China. Traditional Detroit brands such as Lincoln and Jeep collectively exported fewer than 100,000 vehicles to China last year. Still, both Lincoln and Tesla have plans in the works to manufacture cars in China soon.

Source: thestar May 22, 2018 18:33 UTC