China will cut the import duty on passenger cars in what appears to be one of its first concessions in a trade spat with the United States.
China's Xinhua news service said Tuesday that the levies would be cut to 15 per cent, from the current 25 per cent, on July 1.
It cited the State Council, China’s government. Last month at a press conference an official from China's Ministry of Industry and Information Technology had said a cut in import duties would happen "as soon as possible."
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