This is my surprised face - from Market Watch:
China to slash tariffs on U.S. auto imports to 15%
China agreed to reduce tariffs on U.S. autos to 15%, down from 40% currently, during a phone call with U.S. officials that opened the latest round of trade talks aimed at settling a trade dispute festering between the world’s two largest economic powers.
Chinese Vice Premier Liu He informed Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer of the move in a phone call late Monday evening, Washington time, the person said, which restarted trade talks between the two nations. It wasn’t clear when the change would take effect, but Washington is pushing Beijing to make concessions as soon as possible.
They are not something to be used widely but when wielded with finesse, they can accomplish wonders.
Leave a comment