Posted on 12/03/2018 4:40:01 PM PST by E. Pluribus Unum
WASHINGTON/SHANGHAI—U.S. President Donald Trump said on Dec. 3, that China had agreed to cut import tariffs on American-made cars, a potential boon for automakers including Tesla Inc and BMW who manufacture in the United States for export to China.
Trump, fresh from agreeing on a 90-day cease-fire in his trade war with China at the meeting of the G20, said on Twitter that “China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.”
The move, if realized, would bolster U.S. car manufacturers who were hit hard when China ramped up levies on U.S.-made cars in July as part of a broad package of retaliatory tariffs amid a sprawling trade war between Washington and Beijing.
China, the world’s largest auto market, raised tariffs on U.S. auto imports to 40 percent in July, forcing many carmakers to hike prices in a major hit to the roughly $10 billion worth of passenger vehicles the United States sent to China last year.
That put U.S.-made car brands like Tesla and Ford Motor Co’s Lincoln at a major disadvantage, soon after China slashed auto import tariffs broadly to 15 percent for most vehicles.
Trump’s tweet did not give any further detail about the tariff cuts, such as when the deal had been reached or a new level for the Chinese levies.
(Excerpt) Read more at theepochtimes.com ...
No, no, no, no!
We subsidize Tessa out the wazoo. We export them to China and you can bet China won’t be giving them that subsidy from their tax dollars ... but they’ll still be getting it. Kill the subsidy! Let Tesla rot!
this is the Rorshach deal. Both sides claim it consists of whatever they want it to consist of, and nothing was written down or signed. It’s just your word against Xis.
Be a philosopher and think the whole thing out so the big picture stats to emerge.
The point was to scrap all Tesla subsidies.
Exporting a car we subsidize like that would be idiotic. Already dumb enough to have let it be subsidized at all.
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