Xi Jinping pledges to cut Chinese import tariffs

China has promised to further cut import tariffs and open its economy as it tries to address criticisms that its trade practices are “unfair”.

In a speech at a Shanghai trade expo, President Xi Jinping also made a robust defence of the global free trade system which he said was “under attack”.

The comments are being seen as a reference to the US, with which China is fighting a bitter trade war.

The US and China have hit each other with huge import tariffs this year.

Neither are showing any sign of backing down, and the US has threatened to escalate it further still.

Speaking at the opening of the expo, Mr Xi said that “in a world of deepening economic globalisation, practices of the law of the jungle and winner takes all only represent a dead end”.

“An inclusive growth for all is surely the right way forward.”

source: BBC