China to cut tariffs on USD 75 billion in US imports: official

China will cut punitive tariffs on USD 75 billion in US imports by half starting February 14, the government said on Thursday, a month after Beijing and Washington signed a truce in their trade war.

The reduction will apply to tariffs of five percent and 10 percent that were imposed on more than 1,600 items in September, according to the State Council Tariff Commission.