(MENAFN) Chinese Premier Li Qiang on Wednesday sharply criticized the use of tariffs, emphasizing the need for "mutually beneficial cooperation" amid escalating global trade tensions.

"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 said at the opening ceremony of the China International Import Expo (CIIE) in Shanghai.

Li highlighted the urgency for China "to strengthen global economic governance and improve the system of the relevant rules." His remarks come as US tariffs continue to unsettle markets, although China recently secured a one-year trade agreement with the Trump administration.

The premier also pledged to further open China’s 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 said.

The 8th edition of the CIIE in Shanghai featured record participation, bringing together officials, business leaders, and representatives from 155 countries, regions, and international organizations, along with 4,108 overseas enterprises, setting a new scale for the exhibition.

This marks the first major economic event in China following the recent adoption of the country’s 2026-2030 Five-Year Plan, approved at the 4th Plenum of the 20th Central Committee of the Chinese Communist Party last month.

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