China's president offers US possible trade concessions

Posted at 6:40 AM, Apr 10, 2018
and last updated 2018-04-10 06:40:52-04

President Xi Jinping has set the stage for a possible effort to resolve a worsening conflict with Washington over technology and trade by promising to cut auto import taxes, improve intellectual property protection and boost imports.

Xi's pledges at a business conference Tuesday came as Chinese diplomats filed a World Trade Organization challenge over U.S. President Donald Trump's tariff hike on steel and aluminum -- one aspect of a sprawling U.S.-Chinese trade spat.

Xi promised progress on U.S. priorities including opening China's banking industry and boosting imports but didn't address key irritants such as a requirement for foreign companies to work through joint ventures with local partners.

He sought to position China as a defender of free trade and cooperation, despite its status as the most-closed major economy.