Beijing offers to cut auto tariffs, buy soy: US official

Beijing offers to cut auto tariffs, buy soy: US official

Channel NewsAsia - Asia·2018-12-13 04:15

German automakers are likely to be big beneficiaries of Beijing's pledge to cut tariffs on auto imports from the US. (AFP/Johannes EISELE)

WASHINGTON: China has agreed to cut tariffs on autos imported from the United States, and resume soybean purchases, Commerce Secretary Wilbur Ross said on Wednesday (Dec 12), confirming the reports that delighted investors.

Ross told CNBC the moves by Beijing will "prove that President (Donald) Trump was right when he announced his summary of the talks" held recently with China's President Xi Jinping.

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