WASHINGTON: China has agreed to scale back tariffs on imported US cars, President Donald Trump said Sunday, one day after agreeing with Xi Jinping to a cease-fire in the trade war between the world’s top two economies.
Asia stocks had rallied on the news that Washington and Beijing would not impose any new tariffs during a three-month grace period, during which the two sides are meant to finalize a more detailed agreement.
“China has agreed to reduce and remove tariffs on cars coming into China from the US Currently the tariff is 40%,” Trump said on Twitter.
China agrees to ‘reduce and remove’ tariffs on US cars: Trump
China agrees to ‘reduce and remove’ tariffs on US cars: Trump
- Asia stocks had rallied on the news that Washington and Beijing would not impose any new tariffs during a three-month grace period
- China has agreed to reduce and remove tariffs on cars coming into China from the US Currently the tariff is 40%,” Trump said
