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Economy

Xi Jinping promises to expand imports and lower tariffs

Chinese president predicts imports to top $40tn over next 15 years

SHANGHAI -- President Xi Jinping on Monday promised to further open China to foreigners by expanding imports, lowering tariffs and relaxing market access -- an apparent bid to counter criticism from U.S. President Donald Trump and others regarding Beijing's trade and business practices.

In a speech at the opening ceremony of the China International Import Expo, Xi predicted the value of the country's "imported goods would reach $30 trillion, while imported services would top $10 trillion over the next 15 years."

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