{"id":363097,"date":"2018-05-28T08:36:55","date_gmt":"2018-05-28T07:36:55","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-china-unexpectedly-slashes-auto-tariffs-after-trump-trade-truce\/"},"modified":"2018-05-28T08:36:55","modified_gmt":"2018-05-28T07:36:55","slug":"prison-planet-com-china-unexpectedly-slashes-auto-tariffs-after-trump-trade-truce","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/newswire\/prison-planet-com-china-unexpectedly-slashes-auto-tariffs-after-trump-trade-truce\/","title":{"rendered":"Prison Planet.com \u00bb China Unexpectedly Slashes Auto Tariffs After Trump Trade Truce"},"content":{"rendered":"<div>\n<p>      <!-- START CONTENT --><\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/news\/2018-05-22\/china-unexpectedly-slashes-auto-tariffs-after-trump-trade-truce\"><strong>Zero Hedge<\/strong><\/a><br \/>May 22, 2018<\/p>\n<p><strong>In an unexpected, but notable, victory for President Trump\u2019s aggressive trade agenda and exporters of cars around the globe, China\u2019s Ministry of Finance announced Tuesday morning that it would slash passenger car duties to 15%, further opening up the market that\u2019s been a key target of the U.S. in its trade fight with Beijing. This comes less than a month after China decided to ease restrictions on foreign competition in its auto sector and also address some of the US\u2019s concerns about intellectual property theft.<\/strong><\/p>\n<p>The reduction follows a truce that Treasury Secretary Steven Mnuchin announced during a Sunday appearance on \u201cFox News Sunday\u201d. In response, the US has continued to reverse its policy of pressuring telecom giant ZTE, with Trump taking steps to rescue it.<\/p>\n<p>\u201cThis is, without a doubt, positive news,\u201d said Juergen Pieper, Frankfurt-based head of automobiles research at Bankhaus Metzler who spoke with Bloomberg.<\/p>\n<p>Investors would agree, with European auto stocks gapping higher on the news.<\/p>\n<p>But while the administration will no doubt rush to claim this as a victory, nobody expects the tariff cuts to be a gesture of good faith on China\u2019s part: The US is now also expected to make a concession, perhaps in addition to reducing pressure on ZTE. Though for Trump, caving on ZTE is still a pretty big deal, even as the administration has been adamant about framing it as a national security issue and not a trade issue.<\/p>\n<p>\u201cYou can\u2019t completely disregard the fact that there are certain imbalances in China\u2019s favor. This could be a signal that if one side is making concessions, it could lead to the Americans easing some of their pressure as well.\u201d<\/p>\n<p>Meanwhile, according to Bloomberg, the import duty on car parts will fall to 6%, from 25%. But Bloomberg warns that the cuts are largely symbolic, since they will only impact about 4.2% of car sales \u2013 at least&#8230;<\/p>\n<\/div>\n<p><a href=\"https:\/\/www.prisonplanet.com\/china-unexpectedly-slashes-auto-tariffs-after-trump-trade-truce.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zero HedgeMay 22, 2018 In an unexpected, but notable, victory for President Trump\u2019s aggressive trade agenda and exporters of cars around the globe, China\u2019s Ministry of Finance announced Tuesday morning that it would slash passenger car duties to 15%, further opening up the market that\u2019s been a key target of the U.S. in its trade [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-363097","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=363097"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/363097\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=363097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=363097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=363097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}