Shanghai: Chinese Premier Li Qiang on Wednesday criticized the use of tariffs, emphasizing the need for "mutually beneficial cooperation" amid escalating global disputes.
According to Anadolu Agency, Li spoke at the opening ceremony of the China International Import Expo (CIIE) in Shanghai, where he highlighted the negative impact of tariffs on international trade. "Since the beginning of the year, the word tariff has made global headlines. A raft of measures have been taken to sever supply chains or erect barriers. This has seriously undermined international trade rules and disrupted operations of companies globally," he stated.
Li underscored the urgency for China to enhance global economic governance and improve the system of relevant rules, particularly in light of the ongoing trade tensions. His remarks come at a time when US tariffs have unsettled markets, although China has managed to negotiate a year-long deal with the Donald Trump administration.
Despite these challenges, Li reaffirmed China's commitment to opening its market to international businesses. "At a time when the world economy is slowing down and international disputes are intensifying, we must all the more adhere to equal and mutually beneficial cooperation, embrace free markets and free trade, and resolve cross-border contradictions and problems through joint development," he stated.
The 8th edition of the CIIE commenced in Shanghai with unprecedented global participation. This year's event has attracted officials, business leaders, and representatives from 155 countries, regions, and international organizations, along with 4,108 overseas enterprises, setting a new record for exhibition scale.
This expo marks the first significant economic event hosted by China following the Chinese Communist Party's deliberation of the country's 5-Year Plan for 2026-2023 at the 4th Plenum of its 20th Central Committee. The event spans more than 430,000 square meters of exhibition space and will continue until November 10.
Thailand, the United Arab Emirates, Nigeria, Georgia, Sweden, and Colombia are serving as this year's Guest Countries of Honor. Since its inaugural edition in 2018, the expo has become a vital platform that underscores China's new development paradigm, promotes high-standard opening up, and provides opportunities for global trade.