As trade war bites, China's Xi preaches openness
Added 05-15-19 03:04:02am EST - “China and the United States are locked in an escalating trade war, with both levying tariffs on each other's imports. China on Monday announced higher tariffs on $60 billion worth of U.S. goods, effective on June 1, in retaliation…” - News.yahoo.com
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BEIJING (Reuters) - China has a glorious history of being open to the world and it will only be more open, President Xi Jinping said on Wednesday, in his first public address since trade tension with the United States spiked last week.
China and the United States are locked in an escalating trade war, with both levying tariffs on each other's imports. Just before Xi spoke, the government reported surprisingly weaker growth in retail sales and industrial output for April.
China on Monday announced higher tariffs on $60 billion worth of U.S. goods, effective on June 1, in retaliation for a U.S. decision on Friday to raise levies on $200 billion worth of Chinese imports.
Xi was addressing a forum in Beijing organized by the propaganda ministry, called the Conference on Dialogue of Asian Civilisations. He made no direct reference to the trade tension, focusing instead on presenting China as a non-threatening country open to all.
Chinese civilization was an "open system" that had continuously had exchanges and learned from other cultures, including Buddhism, Marxism and Islam, Xi told the forum.
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