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Xi Jinping pledges to cut Chinese import tariffs Xi Jinping pledges to cut Chinese import tariffs
(35 minutes later)
Chinese President Xi Jinping has promised to take steps to cut import tariffs and further open up access to the economy for foreign companies. Chinese President Xi Jinping has promised to take steps to cut import tariffs and to further open up access to the economy for foreign companies.
Speaking at the opening of a trade expo in Shanghai, he also defended the global free trade system, which he said was "under attack".Speaking at the opening of a trade expo in Shanghai, he also defended the global free trade system, which he said was "under attack".
The comments are seen as a reference to the US, with which China is fighting a trade war.The comments are seen as a reference to the US, with which China is fighting a trade war.
The US has hit about half of Chinese imports into the US with tariffs.The US has hit about half of Chinese imports into the US with tariffs.
China has retaliated in kind. China has retaliated with its own tariffs on US imports.
"We will take further steps to lower tariffs, facilitate customs clearance, reduce institutional costs in import," Mr Xi said during a speech at the expo. The White House says the tariffs are a response to China's "unfair" trade policies, which Mr Trump blames for helping to create a huge trade deficit, and its alleged intellectual property theft.
"We will continue to broaden market access," he added. It also wants China to give American companies better access to its markets.
Analysis: 'China not caving in'
Robin Brant, BBC News, Shanghai
The Shanghai International Import Expo is China's big attempt to show the world - and especially the US - that its economy is opening up more. The week-long event aims to give a multi-billion dollar boost to imports. Thousands of foreign firms are here.
In his opening speech, Mr Xi pledged lower import tariffs and moves to make it easier for foreign firms to access the economy. But as is often the case it lacked specific timings.
He also didn't address the core US complaints about Chinese trade, including the alleged theft of intellectual property from US firms and the special terms China gives to its state run companies.
There was definitely no sign that China is about to cave in the escalating trade war. Mr said the Chinese economy was "a sea". Storms can overturn a pond, he said, but never a sea.