China Suspends Tariff Hikes

Photo of China Suspends Tariff Hikes

China says beginning January 1, it will suspend raising tariffs for 90 days on $126-billion in U.S.-made cars, trucks and auto parts. The leaders of the two world powers, Presidents Xi Jinping and Donald Trump, agreed earlier this month to call a truce on their trade dispute. "Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," the Tariff Commission Office of China's State Council said in a statement. Trump had already agreed to suspend planned U.S. tariff increases on Chinese goods while the countries negotiate. Confusion and anxiety about the tariff plans have roiled stock markets.

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