Lower tariffs on Chinese goods are likely to keep auto-parts exports relatively attractive for American buyers, prompting mainland-based producers to reassess their plans to build production facilities in the US.
The US agreed to lower its combined 145 per cent tariffs on most Chinese imports to 30 per cent for 90 days after talks in Geneva on Monday, cooling a stand-off between the world’s two biggest economies since US President Donald Trump rolled out his so-called reciprocal tariffs on the nation’s trading partners.
