Trump says China to "reduce and remove" tariffs on US-made cars

США и Китай

G20: BRICS slam protectionism as China-US trade war dominate summit

It is noted that some $50 billion worth of Chinese imports already face 25 percent tariffs, while the 10 percent tariffs â€"which target a massive $200 billion in goods â€" will also remain in effect.

China has agreed to "reduce and remove" the 40-percent tariff it slaps on new cars imported from the United States, president Donald Trump wrote in a Twitter post.

The announcement comes a day after Trump sat down with Chinese President Xi Jinping at the G20 Summit in Buenos Aires, Argentina for negotiation talks and dinner.

Xi avoids further immediate pressure on China's slowing economy, while Trump - scarred by last month's midterm elections that saw the Democrats regain control of the House of Representatives - can ease damage to agricultural USA states that export to China, particularly soybean producers.

A White House statement said both sides would immediately begin talks over a wide range of issues, including forced technology transfers, intellectual property protection, non-tariff barriers and cyber intrusions.

During the meeting in Buenos Aires, the United States agreed not to increase tariffs on January 1, as had been planned, while China agreed to immediately buy more agricultural products from U.S. farmers.

But as trade tensions ratcheted up with the USA this summer, Beijing retaliated by slapping vehicles imported from the USA with an extra 25 per cent tariff, bringing the total tariff rate to 40 per cent. "Level the field!" Trump said.

The steps agreed so far seem to be leading trade agreements down the right path. Beijing has also agreed to designate Fentanyl as a controlled substance, which is great news it is reportedly causing an epidemic of opioid-related deaths in the US.

That's because for China, Trump's trade war has never been only - or even mainly - about trade.

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He has instead spent considerable time with his family and worked to position himself for a post-conviction career. In September, the special counsel's office officially scheduled December 18 for Flynn's sentencing.

Specifically, China highlighted that the two leaders plan to visit each other's countries at some point and that both sides would work toward scrapping all tariffs to reach a mutually beneficial, win-win agreement.

"If they cancel the extra 25 percent tariff on USA -made cars, then we will see positive signs for imported cars", said director of the China Automobile Dealers Association's import committee, Wang Cun, according to Reuters.

In Buenos Aires, they did reach such an accord.

"It's an incredible deal", Trump told reporters aboard Air Force One on the flight home to Washington, adding it would have an "incredibly positive impact" on American farmers.

Business groups have welcomed those changes but say they don't address more important complaints about a thicket of rules limiting access to China's finance, logistics and other industries. "This is the first time that we have a commitment from them that this will be a real agreement".

U.S. President Donald Trump predicted Monday "very good things will happen" in a U.S.

China is the world's biggest auto market both in terms of demand and supply. "Both sides avoided the worst-case scenario". In a bit of good news, a new presidential tweet suggests that at least one facet of the trade war might be approaching an armistice.

According to the US President, his relationship with Xi is "very special".

A more upbeat assessment was published in the state-owned Global Times, which is run by the People's Daily, the mouthpiece of the Communist Party.

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