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

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

The reduction will apply to tariffs of 5% and 10% that were imposed on more than 1,600 items in September, according to the State Council Tariff Commission.