China cuts taxes, sees 'tough struggle' as growth slows

China's premier warned Tuesday that the country faces a "tough struggle" as he unveiled tax cuts to prop up a stuttering economy while increasing military spending to nearly $180 billion. The slowdown and US trade war have become major challenges for President Xi Jinping, a year after becoming the country's most powerful leader since Mao Zedong with the abolition of term limits and etching of his name into the constitution. Premier Li Keqiang told the opening session of China's annual National People's Congress that the government is targeting growth of 6.0-6.5 percent this year for the world's second-largest economy, lowering its range from 2018.

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