According to a report by Reuters and published by CNBC China’s President Xi Jinping has promised to open China’s markets, lower tariffs, and import more goods.
This is a major shift and an indication that the policies put in place by President Trump are working.
President Trump has placed tariffs on China in an effort to get them to create a better trading environment for the United States. This approach seems to be working as Xi Jinping has announced China’s new approach to trade.
The Chinese President also used the opportunity to take a swipe at the United States by reassuring his commitment to global free trade unlike some of the protectionist approaches by other countries. He did not mention the United States by name, but one can infer what he meant.
Read the entire article at CNBC.