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Chinese President Xi Jinping promised to cut cars import tariffs and improve the protection of intellectual property in possible concessions to resolve the differences with Washington, AP reported.

According to Xi Jinping, he promised progress on areas that are US priorities including the banking industry and increased imports.

Private sector analysts view Xi’s speech as a precondition to put an end to US-China trade war.

Jinping presented China as a defender of free trade and cooperation, despite its status as the most closed major economy, in response to Trump's call for import restrictions and trade deals that are more favorable for the United States, the source said.

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