China slashes auto import tariffs in boost to German automakers, Tesla

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China's tariffs on cars have long angered President Donald Trump.

In January, both AT&T and Verizon were likely pressured by the government into dropping Huawei's devices from their line-up, and six United States intelligence chiefs warned against purchasing the companies' devices for fear of foreign surveillance. Chinese Vice Premier Liu He was involved in the talks in Beijing as well as later talks in Washington, DC.

China will import record volumes of USA oil and is likely to ship more US soy after Beijing signalled to state-run refiners and grains purchasers they should buy more to help ease tensions between the two top economies, trade sources said on Wednesday. But ZTE's fate remained unclear.

"China has almost done nothing but president Trump is claiming victory". We can find many scenarios in which America's trade deficit with China falls on paper.

"When Kim Jong Un had the meeting with President Xi in China".

Trump might have over-estimated his control over the situation and his ability to reign back in sanctions, as it seems Senators have picked up the scent and are determined to make an example of ZTE. Soon after the Commerce Department's order, ZTE shut its factory lines.

The Finance Ministry said charges for many imported vehicles will be cut from 25 percent to 15 percent to promote development of the Chinese industry and increase availability of goods for consumers.

Alongside the letter, the Senate Banking Committee has also approved an amendment to a bill that would give regulators more authority to block foreign investment in the USA, effectively blocking Trump's ability to ease sanctions on ZTE. In targeting ZTE, the U.S. discovered a weapon whose potency it was probably not aware of, and now it also has Huawei in its crosshairs, and this is something that is giving Beijing sleepless nights. Stock markets rallied the next day amid a sense that the US-China trade tensions were cooling, but Mnuchin's comments also prompted a backlash from Trump supporters and economists who argued Trump was easing the pressure on China without having achieved significant concessions.

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Meanwhile, China has achieved important objectives, both tangible and intangible.

But analysts noted that the joint statement issued at the end of the most recent round of negotiations did not include a target for the increased purchases, despite earlier United States claims the increase could amount to as much as $200bn. The nations didn't provide any details of the deal and put no dollar target for reducing the trade imbalance.

"We are working to get the American side to reconsider", said Takehiro Shimada, spokesman for the Japanese embassy in Washington.

He has specifically targeted Germany, and argued that American cars are slapped with higher tariffs than those imposed on European autos.

China responded with its own measures targeting U.S. agriculture.

Cisco CEO Chuck Robbins on China, investing in technology, repatriation, the company's growth and acquisition strategy. The United States Trade Representative found that Chinese theft of American IP costs between $225 billion and $600 billion annually. Right now, it's not so much the trade issue with China as it is their huge buildup of military.

German and Japanese automakers use 'tons of steel from China, ' the source said, because they lack their own foundry capacity. But Washington, too, must realise that a trade war could be mutually ruinous. But the USA under Trump is in no mood to accommodate them beyond a point.