May 22, 2018 / 7:19 AM / 3 months ago

China to cut import duty on cars to 15 pct from 25 pct - Bloomberg

BEIJING, May 22 (Reuters) - China will cut the import duty on passenger cars to 15 percent from 25 percent currently, Bloomberg reported on Tuesday, citing unidentified sources.

The report said China’s cabinet has decided to cut the levy without elaborating further. Bloomberg previously reported Beijing was considering cutting the tariff rate to as low as 10 percent.

Reporting by Beijing Monitoring Desk; Editing by Christian Schmollinger

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