Below is an extract of a post published on Guardian titled "Trade war truce: markets jump as Trump says China will halt new car tariffs"
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Via: Guardian
Chinese state media welcomes break in trade war but warns there is no magic wand’ that would fix relations immediately China has agreed to “reduce and remove” tariffs below the 40% level that Beijing is currently charging on US cars, Donald Trump has claimed, amid a trade war truce agreed by the two countries. The US president and Chinese leader Xi Jinping agreed to halt new tariffs during talks in Argentina on Saturday, following months of escalating tensions on trade and other issues. China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%. Continue reading…
