China to scrap higher tariffs on auto parts imports
Sunday, 30 August 2009
WASHINGTON, Aug 29 (AFP): China has informed the United States it will scrap from Tuesday higher tariffs on imported auto parts following a World Trade Organization ruling, a top US trade official said yesterday.
"We are pleased that China has informed us that it is eliminating the additional charges on imported auto parts in response to the WTO ruling," US Trade Representative Ron Kirk said in a statement.
"We look forward to carefully reviewing the changes announced by China," Kirk said, adding that the amendments to China's laws incorporating the removal of the higher charges were expected to be published shortly.
The WTO last year ruled that the higher tariffs were unfair. Beijing's move would put an end to four-year-old regulations that increased the levy on auto parts imports if they make up too large a share of the domestically finished automobiles.
"We are pleased that China has informed us that it is eliminating the additional charges on imported auto parts in response to the WTO ruling," US Trade Representative Ron Kirk said in a statement.
"We look forward to carefully reviewing the changes announced by China," Kirk said, adding that the amendments to China's laws incorporating the removal of the higher charges were expected to be published shortly.
The WTO last year ruled that the higher tariffs were unfair. Beijing's move would put an end to four-year-old regulations that increased the levy on auto parts imports if they make up too large a share of the domestically finished automobiles.