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China to halve tariffs on some US imports

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China announced it would halve tariffs levied against more than 1,700 U.S. goods last year.

The move comes after a Phase I trade deal signed with the United States. Additionally, analysts see the decision as an effort to boost confidence in Beijing amid the coronavirus outbreak.

A local media report indicated China could invoke a disaster-related clause in the trade agreement. That would allow the country to avoid repercussions if it can't meet the targeted purchases of U.S. goods and services this year.

Read more from Reuters.

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