China suspends tariff hikes on $126B of US goods

BEIJING (AP) — China has announced a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.
The tax agency said the suspension that takes effect Jan. 1 is intended to carry out the agreement reached by Presidents Donald Trump and Xi Jinping during a Dec. 1 meeting in Argentina.
The agency said Beijing will suspend a 25 percent import charge on $66 billion of cars