Chinese president pledges to lower tariffs and increase imports despite tensions with the United States


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Chinese President Xi Jinping promised to reduce tariffs, expand market access and increase imports on Monday.

Xi made the comments at a trade show intended to demonstrate goodwill in the midst of the US-China trade war, Reuters reports.

The United States and China have pushed up tariffs on their products as trade talks stagnate.

However, Xi's recent statements are consistent with Trump's comments Friday, expressing his confidence that he could reach an agreement with China in talks later this month.

"I think we will conclude an agreement with China," Trump told reporters.

"We are about to do something," he said. "They really want to make a deal."

He added that any agreement they reach should be "a good deal for the United States" and a "fair deal" for both countries.

Although Bloomberg reported Friday that Trump had asked cabinet officials to draw up a trade deal after an appeal to Xi, White House economic adviser Larry Kudlow moderated expectations.

"We do a normal, routine analysis of everything we have already prepared and a normal preparation," Kudlow told CNBC. "We are not on the eve of an agreement."

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