22/05/2018
China to slash auto tariffs
China will slash import tariffs for automobiles and auto components by a substantial margin starting July 1st.
The import tariff rate will be cut to 15 percent for automobiles, including 135 tax IDs with a 25 percent previous rate and four tax IDs with a 20 percent rate. Also, components connected to 79 tax IDs with previous rates at 8 percent, 10 percent, 15 percent, 20 percent and 25 percent will be lowered to 6 percent.
In 2017, China imported 1.22 million vehicles, some 4.2 percent of total sales in the country. Most of the imports were from the United States, Germany, Japan and the United Kingdom.
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