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Trump says China agreed to reduce tariffs on US car imports

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Beijing will "reduce and remove" tariffs on US car imports into China, US President Donald Trump said.

Axar.az reports citing BBC.

President Trump made the comments on Twitter without providing more details. The tariffs are currently set at 40%.

The move comes after the US and China reached a temporary truce in their trade war.

President Trump and Xi Jinping agreed at the G20 summit to halt new trade tariffs for 90 days to allow for talks.

The US and China have been embroiled in a trade war this year which has seen the US hit China with tariffs on $250bn (£195.9bn) worth of goods since July, and China retaliate with duties on some $110bn of US goods over the same period.

As part of this, the US imposed a 25% tariff on Chinese cars, on top of the 2.5% already in place.

China imposed a 40% tariff on US vehicle imports - much higher than the 15% it places on other trading partners.

The US says its tariff policy is a response to China's "unfair" trade practices and accuses it of intellectual property theft.

Date
2018.12.03 / 10:30
Author
Axar.az
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