Global Statistics

All countries
526,114,048
Confirmed
Updated on May 20, 2022 6:57 pm
All countries
481,707,503
Recovered
Updated on May 20, 2022 6:57 pm
All countries
6,297,640
Deaths
Updated on May 20, 2022 6:57 pm

COVID-19 Global Statistics

All countries
526,114,048
Confirmed
Updated on May 20, 2022 6:57 pm
All countries
481,707,503
Recovered
Updated on May 20, 2022 6:57 pm
All countries
6,297,640
Deaths
Updated on May 20, 2022 6:57 pm

Support Corruption-Free

Supporting Corruption-Free isn’t a transaction for an online service. Our Community is for people like you who care about a common good: ensuring that balanced, independent coverage of Nigeria and the world continues to be available to millions across the world, for free.

China Slashes Tariffs on Car Imports

Future of Chelsea FC Uncertain As Abramovich Is Urged To Sell Club

UK has yet to decide whether to sanction the Russian billionaire, who has failed to condemn Moscow since the Ukraine invasion and is said to have ‘privileged access’ to Putin

German Envoy to Israel: Putin’s Nazi Accusations ‘Abhorrent’

Ambassador Susanne Wasum-Rainer decries Russian leader’s ‘distortion of the Holocaust’; says chancellor’s visit amid global crisis shows strength of Israel-Germany ties

Footage shows Israeli’s car coming under Ukrainian fire in deadly mistaken identity

Report says Roman Brodsky now believed to have been killed by Ukrainian civilian defense militia; ‘How can you shoot without checking? Animals!’ exclaims his partner

Canadian Telcos Waive Long Distance Connection Fees To Ukraine

Canada’s major telecommunication providers have all waived long-distance fees for connections to Ukraine, to allow Canadians to stay in touch with friends...

PASTOR ADEBOYE’S HUMILITY NOT ALTERED BY HIS MANY ACHIEVEMENTS – VP OSINBAJO

As Pastor Enoch Adeboye, the General Overseer of the Redeemed Christian Church of God (RCCG) clocks 80, a unique lesson for all...

China announced Tuesday it will slash tariffs on imported cars, a move that could benefit the global auto industry.

China’s Finance Ministry said auto tariffs will be reduced from 25% to “around 13.8%,” and levies on car parts will come down from 10% to 6%.

“Volkswagen AG (VLKAY) , the world’s second largest carmaker, rose 0.7% in Frankfurt trading following the statement as rivals BMW AG (BMWYY)  (+1.6%) and Daimler AG (DMLRY) (+1.18%) outpaced the DAX performance index, which was marked 0.12% lower by mid-morning. The Stoxx 600 Automobiles and Parts Index, the sector benchmark, gained 0.53% in the opening 90 minutes of European trading,” reports The Street.

China says the change will take effect July 1st.

In April, President Donald Trump blasted China over its seemingly unfair import duties on cars.

“When a car is sent to the United States from China, there is a Tariff to be paid of 2 1/2%. When a car is sent to China from the United States, there is a Tariff to be paid of 25%. Does that sound like free or fair trade. No, it sounds like STUPID TRADE – going on for years!”

Trump tweeted in March that the Chinese had been tasked with developing a plan to reduce the billion-dollar trade deficit between the two countries, prompting a reply from Telsa CEO Elon Musk.

“Do you think the US & China should have equal & fair rules for cars? Meaning, same import duties, ownership constraints & other factors,” Musk asked the President.

Lamenting China’s costly tariffs, Musk noted that a vehicle made in the United States and imported into China pays a 25% tax. However, China only pays a 2.5 percent import tax when shipping their cars to the U.S.

In a joint statement released Saturday, the United States and China announced that a “consensus” was reached to “substantially reduce” the $370 billion trade imbalance between the two economic superpowers.

“There was a consensus on taking effective measures to substantially reduce the United States trade deficit in goods with China,” the joint statement said, adding, “To meet the growing consumption needs of the Chinese people and the need for high-quality economic development, China will significantly increase purchases of United States goods and services.”

Hot Topics

Future of Chelsea FC Uncertain As Abramovich Is Urged To Sell Club

UK has yet to decide whether to sanction the Russian billionaire, who has failed to condemn Moscow since the Ukraine invasion and is said to have ‘privileged access’ to Putin

German Envoy to Israel: Putin’s Nazi Accusations ‘Abhorrent’

Ambassador Susanne Wasum-Rainer decries Russian leader’s ‘distortion of the Holocaust’; says chancellor’s visit amid global crisis shows strength of Israel-Germany ties

Footage shows Israeli’s car coming under Ukrainian fire in deadly mistaken identity

Report says Roman Brodsky now believed to have been killed by Ukrainian civilian defense militia; ‘How can you shoot without checking? Animals!’ exclaims his partner

Related Articles

Future of Chelsea FC Uncertain As Abramovich Is Urged To Sell Club

UK has yet to decide whether to sanction the Russian billionaire, who has failed to condemn Moscow since the Ukraine invasion and is said to have ‘privileged access’ to Putin

German Envoy to Israel: Putin’s Nazi Accusations ‘Abhorrent’

Ambassador Susanne Wasum-Rainer decries Russian leader’s ‘distortion of the Holocaust’; says chancellor’s visit amid global crisis shows strength of Israel-Germany ties

Footage shows Israeli’s car coming under Ukrainian fire in deadly mistaken identity

Report says Roman Brodsky now believed to have been killed by Ukrainian civilian defense militia; ‘How can you shoot without checking? Animals!’ exclaims his partner