BUSINESS Ford applauds China's move to suspend tariff hikes on US autos

BUSINESS

Ford applauds China's move to suspend tariff hikes on US autos

Xinhua

12:49, December 15, 2018

Major US automaker Ford on Friday welcomed China's announcement to suspend tariff hikes on US vehicles and auto parts, urging the two largest economies to open markets to each other.

VCG31464067125.jpg

Photos: VCG

"As a leading exporter of vehicles from the United States, we are very encouraged by China's announcement today to reduce tariffs on US produced vehicles to 15 percent," said Joe Hinrichs, Ford's executive vice president who is in charge of global operations.

"We applaud both governments for working together constructively to reduce trade barriers and open markets," he said in a brief statement.

According to Ford, the automaker last year exported nearly 50,000 US-built vehicles to the rapidly growing auto market in China.

China announced on Friday that the 25 percent additional tariff on US made cars and trucks will be suspended for 90 days, effective on January 1, 2019.

Cover image: Ford at CIIE.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue