Trade war truce: markets jump as Trump says China will halt new car tariffs

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Chinese state media welcomes break in trade war but warns there is ‘no magic wand’ that would fix relations immediately

Global stock markets rallied on Monday after the US and China agreed a 90-day truce in their trade war at a weekend meeting of the G20 nations in Argentina.

The outcome of the two-and-a-half-hour dinner meeting between Donald Trump and Xi Jinping in Buenos Aires, following months of escalating tensions on trade and other issues, boosted financial markets around the world.

China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.

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Source: china
Link : Trade war truce: markets jump as Trump says China will halt new car tariffs

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