China Cuts Tarrifs

China has cut tariffs on $75 billion of U.S. imports including soybeans, pork and auto parts in a trade truce with Washington as Beijing struggles with a costly virus outbreak. The cuts follow last month’s signing of a “Phase 1” agreement toward ending a long-running tariff war over Beijing’s technology ambitions and trade surplus. Both sides have made conciliatory gestures but the lingering dispute threatens to chill global economic growth. There was no indication Beijing altered its own reductions in response to the impact of measures imposed to contain a virus outbreak that have closed factories, restaurants and shops.

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