GM calls for ‘constructive’ U.S.-China talks
General Motors Co. said on Wednesday that the United States and China need to work together on trade, in response to both countries announcing tariffs on imports, Reuters reported.
“We continue to believe both countries value a vibrant auto industry and understand the interdependence between the world’s two largest automotive markets,” GM said in a statement urging constructive dialogue, according to Reuters.
The Chinese Ministry of Commerce said Wednesday that it plans to impose a 25 percent tariff on $50 billion worth of U.S. exports, including planes, cars, soybeans and chemicals, CNN reported.
China’s planned move came after U.S. President Donald Trump’s administration announced Tuesday that it would impose tariffs on about 1,300 Chinese goods worth about $50 billion annually, CNN reported.
General Motors Co. is the No. 1 automaker in the U.S., Reuters reported.