China rolls back extra tariff on US car imports

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China’s government is to backtrack and remove the extra tariffs it applied to US car imports. The South China Morning Post reports that the rollback – from 40% to 15% – will be in place for three months, suggesting a boon for troubled US electric car maker Tesla. It claims the move will reduce the cost of its cars in the people’s republic by some $12,000. Unlike Ford and General Motors, Elon Musk’s company lacks a partnership with a domestic Chinese player, explaining why the tariffs hurt it more than other US manufacturers.