China To Cut Tariffs In Half On $75 Billion Worth Of U.S. Goods

The Chinese Ministry of Finance announced reductions in tariffs on certain US goods, including pork and soybeans, from 10% to 5%, and on auto parts and crude oil from 5% to 2.5%, effective February 14th. This move follows a preliminary trade agreement signed by President Trump and China, which aims to ease the trade war. The US agreed to delay new tariffs and reduce some existing ones, while China committed to purchasing $200 billion in US goods and tightening intellectual property rules. Future steps depend on the evolving economic and trade situation between the two nations. Despite these reductions, significant tariffs remain on both sides.

How much worth of US goods did China promise to purchase?

What is the current status of tariffs on American goods after the recent changes?