(IARN) — The Chinese Finance Ministry says it will cut tariffs on $75 billion worth of U.S. products. The cuts begin on February 14th and will include ag commodities like soybeans, asparagus, pork, and more. An Agri-Pulse report says the move will cut tariff rate increases in half, somewhere between five and 10 percent, that China put into effect late last year in response to U.S. tariffs. The 30 percent punitive tariff on soybeans will drop to 27.5 percent on February 14, which will be seen largely as a goodwill gesture by China that won’t have a big effect on trade between the two countries. Read more