The meeting between Donald Trump and Xi Jinping in Argentina was a success, according to both governments: China pledged to open its market and Washington agreed to postpone raising tariffs. But can China deliver on its promises? Screenshot: CCTVChina agreed to reduce tariffs on U.S. autos to 15%, down from 40% currently, during a phone call with U.S. officials that opened the latest round of trade talks aimed at settling a trade dispute festering between the world’s two largest economic powers, according to a person familiar with the matter. Chinese Vice Premier Liu He informed Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer of the move in a phone call late Monday, according to the person. It wasn’t clear when the change would take...

Source: Wall Street Journal December 11, 2018 17:18 UTC