China halving some retaliatory tariffs on U.S. goods

China on Thursday announced it would cut in half some of the retaliatory tariffs on $75 billion worth of U.S. goods it imposed last September “to promote the healthy and stable development of Sino-U.S. economic and trade relations,” according to Beijing’s Ministry of Finance. The tariff cuts, set to take effect on Feb. 14, apply to 10 percent tariffs on roughly 900 items and 5 percent tariffs on 800 items, which will be dropped to 5 percent and 2.5 percent,...