Xi pledge to cut import tariffs ‘not a concession’ to US – Beijing
China is prepared and will not hesitate to fight back if Washington escalates its trade spat with Beijing, the Commerce Ministry said on Thursday. It added that President Xi Jinping’s pledge to cut import tariffs is not a concession, Reuters reports. Xi on Tuesday vowed to open China’s economy further and lower import tariffs on products like cars. It would be misleading to say Xi’s pledge at the Boao Forum this week was a concession to the US, according to Commerce Ministry spokesman Gao Feng. Xi was merely outlining China’s strategy to open up further, which had nothing to do with its trade friction with the US, Gao said.