BEIJING — China announced a 90-day suspension on Friday of tariff hikes on U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth. Beijing will suspend a 25 percent import charge on cars and trucks and a 5 percent charge on auto parts, effective Jan. 1, the Finance Ministry announced. The automaker hit hardest by the Chinese tariff hike was Germany's BMW AG, which ships SUVs made in a South Carolina factory to China. The tariff cut lowers the charge for U.S.-made cars and trucks to 15 percent, the same level as imports from other countries. "If the United States cuts or remove tariffs on Chinese goods, China will surely follow up with further relevant measures," Song said.

Source: Philippine Star December 15, 2018 00:22 UTC