USTR: Tariff cut on $120 billion in Chinese goods to take effect on Feb. 14

Fifteen percent duties on roughly $120 billion worth of Chinese goods will drop to 7.5 percent on Feb. 14, according to a draft Federal Register notice released by the Office of the U.S. Trade Representative on Wednesday. The tariff cut is part of the phase-one deal President Trump and Chinese Vice Premier Liu He signed on Wednesday. China did not agree to reduce its retaliatory tariffs on U.S. goods, but did agree to increase its purchases of U.S. products by...