China to lower tariff on auto part imports -media

Newswire

BEIJING, Aug 28 (Reuters) - China will lower a tariff imposed on auto parts next week after the World Trade Organisation ruled against it, state media reported on Friday, but the measure is unlikely to open the door to many imports. China currently imposes a 25 percent tariff on auto parts if they account for 60 percent or more of the finished product's value, much higher than the normal 10 percent tariff on other auto parts. A regulation scrapping the tariff, which dates from 2005, is ...

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