China Says to Suspend Extra Tariffs on US Cars, Parts

China announced Friday it will suspend extra tariffs added to US-made cars and auto parts for three months starting on January 1 as part of the trade war truce with the United States.

Beijing raised tariffs on American-made cars and auto parts this summer by 25 percent in retaliation for US tariffs on $50 billion of Chinese goods.

"Suspension of the tariffs is a concrete measure to implement the consensus reached by the two heads of state," said the announcement by the State Council's Tariff Commission Office.

US President Donald Trump and Chinese leader Xi Jinping agreed on the sidelines of the G20 summit in Buenos Aires on December 1 to a 90-day truce while they tried to find a solution to the escalating trade dispute.

While China and the US initially provided differing accounts of the scope of their agreement, Beijing has recently begun to act on claims put forth by White House officials as to what steps China would take.