Chinese premier takes broadside at tariffs, urges 'mutually beneficial cooperation'

ISLAMABAD/ISTANBUL

Chinese Premier Li Qiang on Wednesday castigated the use of tariffs, stressing "mutually beneficial cooperation" amid intensifying global disputes.

"Since the beginning of the year, the word tariff has made global headlines. A raft of measures have been taken to severe supply chains or erect barriers. This has seriously undermined international trade rules and disrupted operations of companies globally," Li told the opening ceremony of the China International Import Expo (CIIE) in Shanghai.

Li stressed that it was "particularly imperative and urgent" for China "to strengthen global economic governance and improve the system of the relevant rules."

His statement came as the US tariffs have roiled markets, while China has been able to negotiate a year-long deal with the Donald Trump administration.

Li, however, pledged to further open the market of the world's second-largest economy 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 said.

The 8th edition of the CIIE opened in Shanghai with record global participation, as this year’s event has brought together officials, businessmen, representatives from 155 countries, regions, and international organizations, as well as 4,108 overseas enterprises, also setting a new record in exhibition scale.

This is the first major economic event held by China after the ruling Chinese Communist Party last month deliberated the country's 5-Year Plan for 2026-2023, at the 4th Plenum of its 20th Central Committee.

The event covers more than 430,000 square meters of exhibition space, which will run until Nov. 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 evolved into a significant platform that highlights China's new development paradigm, promotes high-standard opening up, and offers opportunities for global trade.