(Yicai Global) April 1 -- China has responded to a US government deferral of increases in vehicle and auto parts tariffs by continuing to hang off imposing its own additional rates, paving the way for trade talks to advance.
The Customs Tariff Commission of China's cabinet, the State Council, will continue to suspend any additional tariffs on US-made vehicles and auto parts, the Ministry of Finance said in a statement posted on its website yesterday.
The cabinet said China's response aims to promote a positive environment for the ongoing trade negotiations.
The US delayed an import duty hike last month, keeping to the current 10 percent rate for Chinese vehicles. Beijing was supposed to increase levies on American cars to 25 percent today, which was the deadline for ending a 90-day halt on new tariffs. The two sides started to impose tit-for-tat tariffs on each other early last year.
Editor: Emmi Laine