China's auto industry association voices strong opposition to US auto tariffs

The China Association of Automobile Manufacturers (CAAM) on Friday voiced strong opposition to the U.S. decision to impose additional 25 percent tariffs on imported autos and certain auto parts.

Calling the U.S. move a "blatant act of unilateralism," the CAAM said such an act violates the World Trade Organization rules (WTO) and disrupts normal trade flows, and urged the U.S. side to correct its wrongful decision.

Noting that the auto industry is highly internationalized, the association said the U.S. move will significantly destabilize the global automotive supply chains and lead to an increase in auto prices, which will not only impose additional costs on consumers but also hinder the global economic recovery.

The CAAM also urged the U.S. administration to address industry concerns, engage in international trade with an open, inclusive and cooperative attitude, and work to maintain the prosperity and stability of the global auto industry.

China's auto industry association voices strong opposition to US auto tariffs

Chinese authorities are set to open duty-free shops each at 41 listed ports of entry to the country, including airports, sea ports and land border crossings, aiming to facilitate tax-free shopping for inbound travelers.

Five government departments, including the Ministry of Finance, made the announcement on Wednesday. They defined port-of-entry duty-free shops as stores located within the restricted zones of airports, sea ports or land border crossings. Spread across the country, these stores will only offer duty-free goods to inbound international passengers.

Analysts say the move will boost consumption and promote the sustained growth of the duty-free retail sector.

Beyond China's natural scenery and cultural appeal, shopping in the country is becoming an increasingly integral part of international tourists' travel itineraries. China has also been expanding its visa-free entry policies and refining tax-refund-upon-departure services for international tourists in recent years.

China to opens 41 new entry-port duty-free shops