President Donald Trump announced on Sunday that China has agreed to lower its tariffs on American automobiles to below 40 percent.
"China has agreed to lower and cancel tariffs on cars coming to the US from China." Currently, the tariff is 40%, "Trump wrote on Twitter.
The announcement took place one day after Trump joined the Chinese G20 summit in Buenos Aires, Argentina, for talks and dinner
Earlier this came China's tariff on US import cars was 1
DISTRIBUTED THE TRUMPS WISH, FORD DOES NOT SAY THAT THERE IS NO CHINESE IMPORT IN THE USA
MAKES A 90-DAY TUNNEL WHILE THE TRUMPH While the world's two most powerful economies are negotiating the government's complaints, China systematically forecasts a planned increase in US tariffs Stealing business secrets and forcing the US to transfer sensitive technology as a price Admission to the huge Chinese market. In return, China agreed to buy an "unprecedented but very substantial" amount of US products to reduce America's shrinking trade deficit with China.
The timetable for China's tariff cuts below 40 percent remains unclear.
The Associated Press contributed to this report.