China Threatens Taxing American Cars Over Trade Dispute

China Threatens Taxing American Cars Over Trade Dispute

26 news, 2

In response to the United States President Donald Trump proposing a tariff of $50 billion on imports from China to the United States, China has responded by threatening to do exactly the same. The United States President had included several components that are used by the auto industry in the list of taxable items, including the likes of transmissions, catalytic converters and lithium ion batteries.

The increase in tax on these crucial automotive components would have in turn made them more expensive and in turn made automobiles more expensive in the United States too, forcing American automakers (and automakers with American assembly facilities) to look inward to American suppliers.

    More on auto.ndtv.com