China delays tariffs on US autos, other goods in trade deal China is postponing punitive tariffs on U.S.-made automobiles and other goods following an interim trade deal with WashingtonBEIJING -- China’s government says it will postpone planned punitive tariffs on U.S.-made automobiles and other goods following an interim trade deal with Washington. Sunday’s announcement came after Washington agreed to postpone a planned tariff hike on $160 billion of Chinese goods and to cut in half penalties that already were imposed. U.S. Trade Representative Robert Lighthizer said that under Friday’s agreement, China committed to buy $40 billion of American farm products over the next two years. Beijing had planned to impose 25% duties on American-made autos on Sunday, which would have raised the total charge to 40%. Hardest hit were Germany’s BMW AG and Daimler AG’s Mercedes unit, which ship U.S.-made SUVs and other cars to China.

Source: ABC News December 15, 2019 08:26 UTC