China to lower rates of additional tariffs on some U.S. products

China will next week lower additionally imposed tariffs on about $75 billion worth of goods imported from the United States, the government said Thursday, according to local media.The measure is meant to "promote the healthy and stable development of Sino-U.S. economic and trade relations," the official Xinhua News Agency quoted the Customs Tariff Commission of the State Council as saying.Effective on Feb. 14, China will halve the tariff rate of 5 percent or 10 percent for the U.S. products that became subject to additional tariffs in September.The measure follows a so-called phase-one deal…READ FULL ARTICLE