China Slashes Steel, Textile Tariffs Amid Trump Pressure

A worker welds wheel hubs of baby carriages that will be exported at a factory in Hangzhou in China's eastern Zhejiang province on June 4, 2018. - China warned the US that any deals reached during ongoing trade talks would be void if Washington went ahead with imposing tariffs on Chinese goods, as the latest round of negotiations ended on June 3 in Beijing. -/AFP/Getty Images

China announced it would reduce tariffs on textile products and metals, including steel, as it runs low on ammunition in its tariff war with the United States.

Tariffs on textile and metals will be lowered to 8.4 percent from 11.5 percent, starting Nov. 1, China’s Finance Ministry stated on Sept. 30.