(Gateway Pundit) \u2013 HUGE ECONOMIC NEWS THIS MORNING \u2014 China moved to reduce tariffs on US cars from 40% to 15% in the latest\u2026<\/b>
\n(Gateway Pundit) \u2013 HUGE ECONOMIC NEWS THIS MORNING \u2014 China moved to reduce tariffs on US cars from 40% to 15% in the latest sign of their willingness to negotiate a trade deal with President Trump.
This comes after meetings in Buenos Aires with top Trump administration figures outside the G20 meetings.
Bloomberg reported:
China is moving toward cutting its trade-war tariffs on imported U. S.-made cars, a step already claimed by President Donald Trump as a concession won during trade talks in Argentina.
A proposal to reduce tariffs on cars made in the U. S. to 15 percent from the current 40 percent \u2014 bringing the U. S. back in line with what other countries pay \u2014 has been submitted to China\u2019s Cabinet to be reviewed in the coming days, according to people familiar with the matter. Shares of carmakers including Daimler AG, Ford Motor Co. and Tesla Inc. rose on the news.
The step hasn\u2019t been finalized and could still change. While reversing the retaliatory duty is a major climb-down by Beijing, it could re-focus the two sides toward implementing the trade-war truce agreed earlier this month. Relations have since been shaken by the arrest of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou in connection with sanctions violations.
\u201cLast week, events seemed to conspire to throw the truce into disarray, but the underlying incentives of both sides at the moment are to try to maintain that truce,\u201d Freya Beamish, chief Asia economist at Pantheon Macroeconomics Ltd. \u201cNow we are seeing the possibility that China will come through with reductions of tariffs on U. S. autos and that\u2019s another good, concrete step.\u201d
Despite the Deep State DOJ\u2019s best efforts to ruin the trade deal and punish Americans China is committing to a new trade agreement with the Trump administration.
Breaking News
In addition to a big conference call between key trade negotiators from the United States and China word that China will move on that Trump tweet to lower tariffs on US cars. https:\/\/t.co\/2zNysySUlZ
\u2014 Charles V Payne (@cvpayne) December 11,2018
thegatewaypundit.com\/2018\/12\/boom-china-moves-to-lower-tariffs-on-us-cars-from-40-to-15\/<\/p>\n