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 chief complaint of its trading partners and a point of contention for U.S. President Donald Trump’s administration, which has threatened billions of dollars in tariffs on Chinese goods.
- Facebook Inc Chief Executive Mark Zuckerberg started testifying before Congress on Tuesday as he looks to fend off the possibility of new regulations as a result of the privacy scandal engulfing his social network.
Canadian police said early Saturday 14 people were killed and 14 people were injured after a truck collided with a bus carrying a junior hockey team to a playoff game in Western Canada.
Shocked residents of the British capital called for an end to a surge in violence that now includes six teenagers stabbed in the space of 90 minutes.
