China to open up auto sector, even as it slaps new tariffs on animal feed

April 17, 2018

Trump had threatened tariff hikes on Chinese goods in response to complaints China taking U.S. technology

China announced plans Tuesday to allow full foreign ownership of automakers in five years, ending restrictions that helped to fuel its trade dispute with U.S. President Donald Trump as it promotes electric car development.

The change would scrap rules that require global automakers to work through state-owned partners, an arrangement that forces them to share technology with potential competitors. It was unclear whether that might mollify Trump, who has threatened tariff hikes on $150 billion US of Chinese goods in response to complaints Beijing pressures foreign companies to hand over technology.

This has been excerpted from the 17 April 2018 edition of CBC News.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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