President Donald Trump announced on Sunday that China will lower or remove tariffs on American-made cars coming into the country.
“China has agreed to reduce and remove tariffs on cars coming into China from the US,” Trump tweeted. “Currently the tariff is 40%.”
The move is significant as US-made cars from BMW and others are popular in China. A total of $10.5 billion worth of new and used cars were shipped to China from the US in 2017, according to the Census Bureau.
The tweet comes the day after Trump’s dinner with Chinese President Xi Jinping that yielded a deal to freeze the escalation of the US-China trade war and pause the imposition of tariffs between the two countries.
The Trump administration announced a 90-day détente in the trade war to give the two countries time to negotiate a broader trade deal.
