"China Has Agreed To Reduce, Remove Tariffs On US Cars": Donald Trump

Jeannie Matthews
December 3, 2018

US President Donald Trump said on Monday that China had agreed to cut tariffs on US cars imported into China.

In a meeting lasting two and a half hours, the United States agreed not to raise tariffs further on January 1, while China agreed to purchase agricultural products from USA farmers immediately. China will be opening up, China will be getting rid of tariffs.

However, the White House said: "If at the end of this period of time, the parties are unable to reach an agreement, the 10 percent tariffs will be raised to 25 percent".

Chinese state media has made only scant mention of the Qualcomm issue, which was not addressed by the Chinese government's top diplomat at a news conference in Buenos Aires on Saturday night.

Personal chemistry between President Trump and foreign leaders - in this case China's President Xi Jinping - and Mr Trump's appetite for deal-making matter more than painstaking negotiations at the level of senior officials.

The news comes as Trump mulls a tariff hike on vehicles imported from the European Union.

"Moreover, the ideology behind the trade tensions is still about strategic positioning of the two economies, which means until issues around technology transfer and (intellectual property) are resolved, nerves will persist".

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The White House said China was "open to approving the previously unapproved" deal for US company Qualcomm Inc QCOM.O to acquire Netherlands-based NXP Semiconductors NXPI.O "should it again be presented". USA officials for years have been pressing the Chinese government to take a tougher stance against fentanyl, and most US supply of the drug is manufactured in China.

The only details that matched up in both the White House statement and Xinhua's report were Xi's decision to more strictly control fentanyl in China, and the two leaders' commitment to denuclearization in North Korea.

China responded by imposing its own tariffs.

China is the country of origin for most of the illicit fentanyl found in the United States. "Currently, the tariff is 40 per cent". National Institute on Drug Abuse. If they can't, the higher USA tariffs will go into effect on the $200 billion in Chinese imports.

Bags of heroin, some laced with fentanyl, are displayed before a press conference at the office of the New York Attorney General, in New York, on September 23, 2016. The US has a 27.5 per cent tax on imported cars from China. Articles appear on euronews.com for a limited time.

Similarly, a December 2 article by Chinese financial newspaper, National Business Daily cited the Global Times article from August to refute the United States' criticisms of unbridled production of fentanyl in China.

That President Xi agreed to designate fentanyl a controlled substance, meaning that Chinese selling the powerful synthetic drug to the United States will be subject to maximum penalties, is also important to President Trump, who has made fighting America's raging opioid epidemic a priority. Humanwell Hi-tech, a pharmaceutical company based in Wuhan City, made that point to Chinese newspaper Economic Observer, while Nhwa Pharmaceutical Co. based in coastal Jiangsu Province, offered a similar statement to National Business Daily on December 2.

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