China cutting auto import taxes as of July 1

In this April 26, 2018, file photo, visitors look at a Buick Enspire concept car on display at the China Auto China in Beijing. China has announced it will reduce auto import duties effective July 1 following promises to buy more U.S. goods and end restrictions on foreign ownership in the industry. The Finance Ministry said Tuesday, May 22, 2018, that charges for many imported vehicles will be reduced from 25 percent to 15 percent. (AP Photo/Andy Wong, File)

BEIJING — China said Tuesday it will reduce auto import duties effective July 1 following pledges to buy more U.S. goods and end restrictions on foreign ownership in the industry.

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