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De-escalating trade war: Xi promises lower tariffs, opens economy further

Xi also said China would raise the foreign ownership limit in the automobile sector "as soon as possible"

Reuters  |  Boao, China 

Chinese President Xi Jinping on Tuesday promised to open the country's economy further and lower import tariffs on products including cars, in a speech that comes amid rising trade tensions between China and the United States. Xi also said China would raise the foreign ownership limit in the automobile sector "as soon as possible" and push previously announced measures to open the financial sector. "This year, we will considerably reduce auto import tariffs, and at the same time reduce import tariffs on some other products," Xi said at the Chinese Boao ...

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First Published: Tue, April 10 2018. 20:59 IST
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