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Trump says China has agreed to reduce, remove tariffs on cars

US President Donald Trump at the G20 summit on Dec 2, 2018. Photo: AFP

US President Donald Trump said China has agreed to "reduce and remove" tariffs on American cars from 40 percent currently.

He gave no other details in the late-night tweet, which came shortly after he agreed with President Xi Jinping to a temporary truce in an ongoing trade war. China hasn't made a similar announcement on auto tariffs.

"China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%," Trump said on Twitter.

Trump last week ordered a separate review of China's 40 percent tariff on auto imports from the US, 25 percentage points of which is the result of Chinese retaliation against Trump's own tariffs on imports from China. The US currently charges a 27.5 percent tax on imported cars from China.

China said last week that tariffs on US autos would be 15 percent if not for the trade dispute, and it called for a negotiated solution.

Asia stocks had rallied on the news that Washington and Beijing would not impose any new tariffs during a three-month grace period, during which the two sides are meant to finalize a more detailed agreement.


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