 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
China to scrap higher tariffs on auto parts imports: US
Washington (AFP) Aug 28, 2009 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 Friday. "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. "Ending these charges will help ensure a level playing field for the high-quality auto parts made in America, and is an important example of the importance of enforcing our international trade agreement rights," Kirk said. The Chinese state media reported Friday that Beijing was expected to scrap the higher tariffs next week and that the Chinese government would issue a statement Tuesday abolishing the rule. China imposes an import duty of 25 percent on vehicles and only 10 percent on auto parts. Beijing has a minimum local content requirement of 60 percent for domestically produced cars. A vehicle that fails that criterion suffers the same tariff -- 25 percent -- as if it had been imported completely built. The WTO's Dispute Settlement Body ruled in July 2008 that China's increased tariff on auto parts imports was inconsistent with the international trade body's rules, a decision welcomed by the United States, which brought the complaint along with Canada and the European Union. China appealed the ruling, but the WTO's appeal body upheld the decision in December. Following the WTO action, the United States asked China to honor its WTO obligation and remove the tariff increase. Share This Article With Planet Earth
Related Links Car Technology at SpaceMart.com
Think electric car set to roll out of Norway: reportOslo (AFP) Aug 26, 2009 Think, an electric vehicle manufacturer based in Norway, may move production to Finland as part of a restructuring plan, the Norwegian tabloid Verdens Gang reported on Wednesday. Think has just one model in its product line-up, the Think City minicar, and is considered as a pioneer in the electric vehicle sector. "New and current investors will inject millions of kroner to save Think," ... read more |
|
|
| The content herein, unless otherwise known to be public domain, are Copyright 1995-2009 - SpaceDaily. AFP and UPI Wire Stories are copyright Agence France-Presse and United Press International. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by SpaceDaily on any Web page published or hosted by SpaceDaily. Privacy Statement |
del.icio.us
Digg
Reddit
YahooMyWeb
Google
Facebook