China has proposed cutting tariffs on US-made cars to 15 per cent, the same tax levied on car imports from other countries.
Bloomberg reported that China’s cabinet will review the plans, which will undo the 40 per cent import duty China imposed on US cars this summer. The proposal, the timing of which remains uncertain, comes as the two countries restart trade talks.
Tuesday’s reports in US media, which were based on anonymous sources including a car industry executive, said China outlined the plan on a recent telephone call between top trade negotiators from the two countries.
Bloomberg, which cited “people familiar with the matter”, said the step was not finalised and could still change.
The office of the US Trade Representative, which is leading the discussions, did not respond to a BBC request for comment.In a tweet, Mr Trump said the two sides were having “very productive conversations”.
