White House Economic Adviser expects China’s tariffs on U.S. autos to fall to zero

Vastavam web: White House Economic Adviser Larry Kudlow on Monday said that China could immediately slash its vehicle tariffs, as the country enters a 90-day truce in the current trade war with the United States to negotiate a trade deal, as he reiterated China’s pledge to begin lifting barriers immediately. Kudlow said on a call with reporters that he believed the immediate action could include China reducing its 40 percent tariffs on U.S.-produced vehicles and that he expects Beijing will quickly roll back new retaliatory tariffs it had imposed on agricultural imports as the trade war heated up.

“We expect those tariffs to fall to zero,” he said in reference to the auto tariffs. Kudlow said that the 90-day clock for negotiations would start on Jan. 1, but that China had pledged to start lifting both tariff and non-tariff barriers quickly, and could act as soon as Monday.