In the News: China Duty Cut, Sanctions Threat, Auto Tariffs

China cuts tariffs on imports from Asian partners as trade war with U.S. looms

“The cuts are part of China’s commitments under the Asia-Pacific Trade Agreement signed by the members of a small regional trade bloc that China joined in 2001, before its entry to the World Trade Organisation. The six members agreed to the reduced tariffs in 2016 after a decade of negotiations.”

[South China Morning Post]

Trump administration threatens sanctions against countries that import Iranian oil

“The State Department official, who briefed reporters on condition of anonymity, said countries must stop imports of Iranian oil by [Nov. 4] or face so-called secondary sanctions for trading with Iran. No waivers are planned, the official said.”

[Los Angeles Times]

U.S. automakers say no to Trump’s car tariffs

“Unlike the steel and aluminum tariffs — where some companies, unions and lawmakers offered measured support for the president’s attention and protection — there is near-unanimous opposition among those same groups against the push to impose tariffs on cars.”

[Politico]