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%.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. must be 'understanding' if China virus impacts trade pledges: agriculture secretaryU.S. Agriculture Secretary Sonny Perdue said on Wednesday that the United States...
Read more »
Larry Kudlow: Coronavirus will slow U.S. farm exports to ChinaWhite House economic adviser: The coronavirus in China will affect its ability to purchase massive amounts of U.S. goods and services as part of the 'phase one' trade deal
Read more »
U.S. to review new curbs on Huawei, China in Feb. meeting: sourcesThe Trump administration plans to meet this month to discuss further curbing tec...
Read more »
The US has sent supplies and support to Wuhan, China confirmsThe coronavirus oubreak has killed nearly 500 people and infected more than 24,000 worldwide. Follow here for the latest
Read more »
Hundreds of U.S. evacuees from China placed under coronavirus quarantine at military basesTwo planes carrying about 350 Americans out of Wuhan, China, arrived at an Air Force base in California as the United States stepped up efforts to bring its citizens home from the epicenter of the fast-spreading coronavirus outbreak
Read more »