China will halve tariffs on some $75 billion of imports from the U.S. later this month, reciprocating a U.S. action and likely satisfying part of the interim trade deal.
The cut will be effective from 1:01 p.m. on Feb. 14, Beijing time, according to a Ministry of Finance statement on Thursday, the same time as when the U.S. will implement reductions in tariffs on Chinese products. Punitive Chinese tariffs on American goods that were adopted from Sept. 1 last year will be lowered, with the rate on some dropping to 5% from 10%, and the others to 2.5% from 5%.
