Since its accession to the World Trade Organization, China has actively fulfilled its WTO commitments, and voluntarily engage in unilateral tariff reductions. All commitments in goods had been fulfilled by the year 2010 with the overall tariff level down from 15 percent in 2001 to 9.8%. China's weighted tariffs in 2015 had fallen to 4.4 percent, much lower than the Republic of Korea, lower than developing countries such as India and Indonesia, and approaching that of the US 2.4 percent and EU’s 3 percent. And this year China cut most-favored-nation rate on whole vehicles to 15 percent and auto parts to 6 percent. Currently China's overall tariff rate has been reduced to 8 percent. Meanwhile foreign direct investment to China continues to grow surging from about 47 billion US dollars in a year 2001 to 136 billion US dollars last year at an annual growth rate of 6.9 percent.
Now, the United States grants normal trade relations, otherwise known as most-favored-nation status, to Vietnam annually.