China to reduce tariffs on US car imports

Beijing will "reduce and remove" the 40% tariffs it places on US cars imported into China, US President Donald Trump has said.

Over dinner at the G20 summit last week, China and the US agreed to not increase tariffs for 90 days to allow for talks. Failure to strike a deal would have seen tariffs on 200 billion USD worth of Chinese goods rise from 10% to 25% at the start of next year, and would have opened the way for tariffs on additional Chinese goods.

Since July, the US has hit China with tariffs on 250 billion USD worth of goods. China has retaliated with duties on some 110 billion USD of US goods over the same period.

Source: VOV5