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In what could be his biggest personal achievement in the White House, President Trump announced on Twitter that China has agreed to “reduce and remove” tariffs on American cars coming into China. The current tariff, according to the President, is 40%.
China has agreed to reduce and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%.
— Donald J. Trump (@realDonaldTrump) December 3, 2018
The trade war between the two biggest economies in the world has been heating up ever since the President announced fresh tariffs on Chinese imports earlier this year. It was a move that was heralded by his supporters and detractors alike; tariffs are generally considered a staple of Democrats but the President’s ascension has made them popular with Republicans as well. Senate Minority Leader Chuck Schumer praised the move when it was announced.
Now, critics are caught wondering if the President was right all along. Our editor-in-chief is already preparing to retract his previous condemnation of the move.
When I'm wrong I admit it. If this works out, then we can say Trump's tariffs, which I opposed, are actually working. It's not a done deal, of course, but the fact that it's moving forward is enough for me to preemptively prepare to eat crow. https://t.co/Dm4vT2jegu
— JD Rucker (@JDRucker) December 3, 2018
Some conflicting reports have come out of China, but it’s often hard to tell the difference between truth and fiction with their state-run media. It’s possible they are mitigating any negative responses by easing away from an agreement for now.
It is unclear whether the tariffs will be “reduced” or “removed” as the President’s Tweet made both claims. There is only one tariff applied to automotive imports in China, which raised tariffs by 25% to 40% to match the President’s 25% raise from 2.5% to 27.5%.
No further confirmations have been issued outside of the Tweet. The start of the workweek will bring many questions about the details to the White House press office.
This would be the biggest economic move made by the President without involving Capitol Hill. It will be nearly impossible for mainstream media to spin against the President if the tariff is reduced below 15%. Of course, that won’t stop them from trying.
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