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China agrees to 'reduce and remove' tariffs on US cars: Trump

AFP  |  Washington 

has agreed to scale back tariffs on imported US cars, said Sunday, one day after agreeing with to a ceasefire in the trade war between the world's top two economies.

stocks had rallied on the that and 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.

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

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 10:20 IST