US president Donald Trump has announced that Beijing agreed to “Reduce and Remove” tariffs on cars shipped from the United States to China.
Trump took to his Twitter page on Monday to announce that China agreed to reduce its tariffs on American cars coming to the Asian country.
“China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%,” the US president said on his Twitter page.
The announcement comes amid current developments in trade relations between the two nations. Donald Trump and his Chinese counterpart Xi Jinping agreed Saturday that no new tit-for-tat tariffs will be imposed after January 1 as trade talks between the countries continue.
White House confirmed back then that China and US agreed to try to reach an agreement on several trade issues “within the next 90 days,” while China would agree to purchase “very substantial” agricultural, energy, industrial and other products from the United States to reduce the trade imbalance.
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Beijing and Washington have been engaged in a major trade row following Trump’s announcement of the introduction of steel and aluminium import duties in March. The tensions further escalated in late May when US government announced that $50 billion worth of Chinese goods would be subject to 25 percent tariffs, a move that prompted a harsh retaliation from Beijing.