China Suspends Tariff Hikes $126B Of American Goods

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China has announced a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.


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The tax agency said the suspension that takes effect Jan. 1 is intended to carry out the agreement reached by Presidents Donald Trump and Xi Jinping during a Dec. 1 meeting in Argentina.

The agency said Beijing will suspend a 25 percent import charge on $66 billion of cars and trucks and a 5 percent charge on $60 billion of auto parts.

Trump agreed earlier to suspend planned U.S. tariff hikes due to take effect Jan. 1 on Chinese imports while the two sides negotiate.

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About Chuck Berry

Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!