Jitters over a potential trade war between China and the U.S. have been alleviated to some degree as Beijing says it will cut tariffs on imported cars and auto parts. <br /> The country's finance ministry made the announcement on Tuesday and will involve reducing duties on passenger vehicles from 25 to 15 percent starting from the beginning of July. <br />Chinese President Xi Jinping had indicated that such a move was in the works and the announcement came just days after China and the U.S. agreed to stop their recent trade disputes. <br /> Carmakers have welcomed the move, but industry experts say Beijing's tariff cut is not as big as it looks.<br />They say the domestic market in China will continue to enjoy considerable protection. <br />
