Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
May 22, Tuesday 2018 7:53 AM       

       HEADLINES: V T Balram a heinous type that give likes to pedophilia                                              Nadir is not Maoist: Police agree finally                                              Lini wrote that heart-breaking letter from death bed                                              Tripura floods render around 600 families homeless                                              'Madhuri-442' banned after spurious liquor kills 10 in Kanpur                                              Swallowed bitter pills for a secular government in K'taka: Congress                                              Dalit man beaten to death in Gujarat, five held                                              BrahMos successfully test-fired under life extension program                                              Pak troops fire at Indian posts, day after ‘pleading’ for ceasefire                                              Hillary Clinton to be awarded at Harvard                                              Doctor gets three years for spiking girlfriend’s drink to induce abortion                                              Modi arrives in Sochi for informal summit with Putin                                              12 mins max to destroy Israel: Pak commander                                              Nadal wrestles back to top spot post Rome triumph                                              Messi wins fifth European Golden Shoe award                                              Kaumudi Facebook
       AUTOMOBILE Next Article: Triumph Motorcycles India eyes 10% growth  
       China considering cutting duty on imported cars by about half
 
         Posted on :18:08:51 Apr 27, 2018
   
A A
       Last edited on:18:08:51 Apr 27, 2018
         Tags: China, duty cut, imported cars, 10%, 15%
 

BEIJING: China is considering cutting the import duty on passenger cars by about half as part of the country's plan to further open up the automobile market, Bloomberg News reported on Thursday, citing people familiar with the matter.

China's cabinet is weighing proposals to reduce the levy on imported cars to 10 per cent or 15 per cent from the current 25 per cent, according to Bloomberg.

An announcement on the decision could be made as soon as next month, it added.

China pledged earlier this month to open up its auto market, the world’s largest, announcing a timeline to remove long-standing caps on foreign ownership of automotive ventures and saying it would cut tariffs on imported cars soon.

China’s State Council did not immediately respond to Reuters’ phoned and faxed requests for comment on Thursday.

The high tariff - versus a 2.5 per cent US levy - has been a focus of US President Donald Trump’s administration amid a simmering trade standoff between Washington and Beijing. Trump has said the 25 per cent tariff amounted to “stupid trade.”

Trump said on Tuesday there was a good chance that the United States could reach a trade agreement with China and that Treasury Secretary Steven Mnuchin would head there for negotiations in a few days.

A major reduction in tariffs could prompt overseas automakers, especially luxury brand names, to import more cars made overseas into the Chinese market, boosting their competitiveness by helping close a price gap on local rivals.

China’s main auto body said earlier this month a reduction to a 5 per cent import tariff could knock around one-fifth off the domestic industry’s profits, though it did not expect the tariff cut to be that severe.

A A
       AUTOMOBILE
Next Article: Triumph Motorcycles India eyes 10% growth
 
 
AUTOMOBILE HEADLINES
Toyota Yaris launched at a starting price of Rs. 8.75 lakhs  
Honda drives in new Amaze; to launch six new models in three years  
Tesla sets up Shanghai firm as it expands China presence  
Volkswagen to recall 410K cars over faulty seat belts  
Terra Motors raises 10 million dollar fund to expand in Asian market  
CarToq emerges as the largest, most-engaged automobile platform in India  
Favourable taxation structure pre-requisite to launch EVs in India: Mercedes  
Toyota to build test track for self-driving cars  
Skoda eyes up to 10% growth in 2018  
China considering cutting duty on imported cars by about half  
Triumph Motorcycles India eyes 10% growth  
Dream job: Harley-Davidson interns get a free motorcycle  
BMW expects 50% of sales in India to come from X series SUVs  
First years’ service for smallest Rolls-Royce  
Volvo Cars plans to assemble two more models in India this year  
Toyota plans to hike vehicle prices next month  
China to lift foreign ownership limits on automakers  
VW's new CEO asserts authority as sets out on road to reform  
Paris Motor Show 2018 to be trendsetter in showcasing futuristic technologies in automobile space  
Mahindra Electric, Zoomcar partner to offer self-drive EVs on rent  
Ford could make electric cars in Germany after 2023  
HMSI recalls 56,194 units of Aviator, Activa 125, Grazia  
Tesla recalls early model S vehicles over power steering bolts  
Jaguar Land Rover to test self-driving valet parking on Britain's streets  
Maruti Suzuki Devils Circuit becomes India's leading disruptive sporting property  
 
State government has acted quickly to rein in Nipah virus. Do you agree?
yes
 
no
 
no opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy