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China's Xi renews vow to open economy, cut tariffs as U.S. trade row deepens

Reuters  |  BOAO/BEIJING, China 

By Kevin Yao and Elias GlennBOAO/BEIJING, China (Reuters) - Chinese President Xi Jinping promised on Tuesday to open the country's economy further and lower import tariffs on products like cars, in a speech seen as an attempt to defuse an escalating trade dispute with the United States.While much of his pledges were reiterations of previously announced reforms that foreign businesses say are long overdue, Xi's comments sent stock markets and the U.S. dollar higher on hopes of a compromise that could avert a trade war.Xi said China will widen market access for foreign investors, addressing a ...

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First Published: Wed, April 11 2018. 00:35 IST
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