China reportedly to move on US car tariffs cut

According to the latest headlines floating on the wires, China is said to move on US car tariffs cut.

The report by Bloomberg said that a proposal to reduce tariffs on cars made in the US to 15%, from the current 40%, has been submitted to China's Cabinet to be reviewed in the coming days.

The move is actually a part of the agreement between the US and China at the G20 summit in Buenos Aires, Argentina.