Washington: Us President Donald Trump says that China has agreed to reduce tariffs on US car imports. Trump tweeted that Beijing will reduce and remove the 40% tariff it places on US cars imported into China. However, China has declined to confirm trump’s announcement.
This temporary solution for the escalating US-China trade war was arrived at, after Donald Trump’s and Chinese President Xi Jinping meeting during the G20 summit in Argentina. Both the countries have also agreed to not increase tariffs for 90 days.
America’s decision of an increase of 10 to 25% import tariff on Chinese goods worth 20,000 crore dollars from January 1, 2019 had escalated the US-China trade war. It is this decision that America has temporarily put on stand-by after the discussions in Argentina.