China is reportedly going to cut tariffs on cars it imports from the U.S.
That's according to President Donald Trump, who tweeted late Sunday that Beijing "agreed to reduce and remove" its current 40 percent tariff. He didn't provide any other details.
As of early Monday morning, China hasn't commented on President Trump's announcement. But the two countries did agree to a short-term trade truce over the weekend.
A trade battle has so far resulted in the U.S. taxing $250 billion worth of Chinese imports. Meanwhile, China's placed tariffs on $110 billion of American goods — but it doesn't import nearly as many products from the U.S.
China actually reduced tariffs on imported cars back in July to 15 percent, down from 25 percent. But it raised those tariffs to 40 percent shortly after in retaliation against the U.S.
Additional reporting from Newsy affiliate CNN.
