U.S. rolls back tariffs on China as "phase one" deal takes effect

The United States on Friday rolled back some of the punitive tariffs it has imposed amid its trade war with China, as an interim trade deal between the two countries took effect the same day.Based on the "phase one" deal, the United States halved the 15 percent tariff rates imposed on $120 billion of Chinese imports in exchange for Beijing's commitment to purchase substantially more U.S. products and strengthen its intellectual property protections.The latest development comes as China wrestles with the outbreak of a new coronavirus that has hit economic activity in the country and the regi…READ FULL ARTICLE