China cuts tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts in a trade truce with Washington as Beijing struggles with a costly virus outbreak.
In this Tuesday, Feb. 4, 2020, photo, workers watch a container ship arrive at a port in Qingdao in east China's Shandong province. China cut tariffs on $75 billion of U.S. imports including auto parts on Thursday, Feb. 6 in response to American reductions as part of their truce in a trade war.
BEIJING — China cut tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts Thursday in a trade truce with Washington while Beijing struggles with a costly virus outbreak. The reductions follow American tariff cuts last month on Chinese goods. There was no indication Beijing altered its own cuts in response to the rising cost of efforts to contain a virus outbreak that have depressed business activity by closing factories, restaurants and shops.
The tax rate on some 916 items including soybeans, pork and fish was cut from 10% to 5%, effective Feb. 14, the ministry said. The rate for 801 items including auto parts will be cut from 5% to 2.5%.
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