China agrees to reduce tariffs on US cars: Donald Trump tweets
Beijing/Washington, Dec 3 (IBNS): US President Donald Trump on Monday said China will 'reduce and remove' 40 percent tariff it had placed on American cars imported into China.
Trump made the announcement on Twitter but did not give any further details on the issue.
China has not commented on the US President's tweet so far.
Trump posted: "China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%."
Amid trade war between the US and China, during the recent meeting between Xi and Trump, the two leaders had agreed to not increase tariffs for 90 days to allow for talks.
"Failure to strike a deal would have seen tariffs on $200bn worth of Chinese goods rise from 10% to 25% at the start of next year, and would have opened the way for tariffs on additional Chinese goods," BBC reported.
China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.
— Donald J. Trump (@realDonaldTrump) December 3, 2018
The two countries were engaged in hitting each other with escalating tariffs in recent times over an attempt to make their domestically made goods more competitive.
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