CHINA HAS taken its WTO commitment seriously and on July 1 cut import taxes on some cars and auto parts, according to People’s Daily Online. Tariffs were lowered on cars, SUVs (sports utility vehicles or cross-country vehicles), and mini-buses from 28% to 25%. Import taxes on auto parts, such as auto bodies, underpans, medium and low emission gasoline engines, were reduced to 10% from a range between 13.8% and 16.4%. On January 1 import tariffs were cut on more than 100 categories of products ranging from vegetable oil and raw chemical materials to automobiles and parts.
