China to Cut Retaliatory Tariff on US Imports

China’s Ministry of Finance said it will halve retaliatory tariffs on $75 billion worth of U.S. imports beginning Feb. 14, according to an unofficial translation of a news release. Tariffs on some U.S. goods will fall from 10 percent to 5 percent, China said, while others will drop from 5 percent to 2.5 percent. The tariffs stem from China’s Sept. 1 tranche of retaliatory tariffs. China released additional details about the cuts in guidance from the State Council Tariff Commission.