"The problem is it's so late in the season for the U.S.", Friedrichs said. For example, shares in BMW rose 1.8 per cent, Daimler's share price increased by 2.7 per cent, Volkswagen rallied by 3.6 per cent, and General Motors jumped by 1.5 per cent.
However, the purchases would provide a goodwill gesture before the next round of US-China talks to change their terms of trade.
Also, Trump said he expects China to soon cut tariffs on USA autos to 15 percent from the current 40 percent level.
Chinese auto dealers also perked up their shares, hoping that the temporary US-China treaty will help improve the domestic market.
American farmers, especially soybean farmers, have been hit hard by China's retaliatory tariffs.
China's government says its economic czar and U.S. Treasury secretary Steven Mnuchin have discussed plans for the next round of talks in a tariff battle following a temporary cease-fire.
China has reportedly proposed cutting tariffs on US-made cars to 15%, the same tax levied on auto imports from other countries. "And therefore tension between China and USA will continue". If they can't, the higher USA tariffs will go into effect on the $200 billion in Chinese imports.
They are the largest exporters of China-bound sport utility vehicles from the US and significant importers of luxury sedans into the USA, said Jeff Schuster, the president of global forecasting for LMC Automotive. Mr Xi had conceded to the arrangement with the agreement that US President Donald Trump puts a hold on enacting the new China tariffs.
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Growth in Hong Kong's exports will be almost halved to 5 per cent in 2019 from 9 per cent this year, with the outlook the most uncertain in the coming first quarter amid a temporary truce in the US-China trade war, the city's trade development body forecast on Thursday.
The purchases are worth at least $180 million and are the first since Trump and Xi agreed to a truce. Ford exports more of its cars to China than GM, Dzichek said, because it has less of a footprint in the country.
It turns out the President was right, and China is reducing its tariffs from 40 percent to just 15 percent, according to a report by the Wall Street Journal.
Growing concerns that the trade war will increasingly hurt corporate earnings and the US economy are a key reason why USA stock prices have been sinking this fall.
The US has a long list of complaints against China on intellectual property, forced technology transfers and industrial subsidies.
Trump also said he would intervene in the Justice Department's case against a top executive at China's Huawei Technologies if it would serve national security interests or help close a trade deal.
Daimler also exports its vehicles from the USA to China and it saw its shares go up by 2.7% in trading.
Most of the major vehicle manufacturers in the USA are unaware of the lower tariff rule on imported cars to China.