China to suspend additional tariffs on US-made cars from January 1

China's finance ministry said on Friday it will suspend additional tariffs on US-made vehicles and auto parts for three months starting January 1, 2019.

The government will suspend 25 per cent tariffs on 144 US vehicle and auto part items and 5 per cent tariffs on 67 auto items between January 1 and March 31, 2019, the ministry said in a statement on its website.

The Ministry of Finance also said it hopes China and the United States can speed up negotiations to remove all additional tariffs on each other's goods.