China's Car Imports Hit Record in July, Unaffected by Lower US Volumes - Commerce Ministry

BEIJING (Pakistan Point News / Sputnik - 30th August, 2018) Imports of cars to China reached a record high in July due to Beijing lowering import duties, despite auto imports from the United States going down amid a heated trade dispute between the two countries, Chinese Commerce Ministry spokesman Gao Feng said Thursday.

"To increase imports and satisfy the growing needs of the population, on July 1, China lowered customs duties on car imports from 25 percent to 15 percent ... The volume of car imports from across the world to China has significantly grown breaking the monthly record," Gao told a press briefing.

US-Chinese trade tensions had prompted Beijing to increase tariffs on all imported US cars from 15 percent all the way to 40 percent, the spokesman continued.

"All this, of course, has affected the imports of US automobile industry products to China," Gao pointed out, noting the openness of the Chinese market.

Gao expressed hope that the United States would be able to resolve its trade dispute with China through dialogue, not a demonstration of power.

The bilateral trade tensions erupted in March after US President Donald Trump, who had repeatedly pledged to fix the US trade deficit with China, announced that his administration would impose tariffs on imported Chinese steel and aluminum.

Since then, both countries have imposed several rounds of import duties on each other. The sides have tried to resolve the dispute by holding bilateral talks, but to no avail.