China folds for Trump and lowers charges on American cars
According to US President Donald Trump, China agrees to reduce or even abolish import tariffs on US cars. The president said that on Sunday night (local time) on Twitter.
“China has agreed to reduce and abolish tariffs for cars entering China from the US. Currently the rate is 40 percent,” writes Trump, who met his Chinese counterpart Xi Jinping last weekend at a summit in Buenos Aires.
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
It was already known that the two countries in Argentina agreed not to introduce new import duties for the time being. Trump wanted to raise tariffs again from the start of the new year, but now sees it as a reduction. In exchange, according to the White House, China agreed to buy a “very substantial” amount of American products.